Adobe reports better-than-expected first-quarter revenue, profit

March 16, 2017 (Reuters) – Adobe Systems Inc reported better-than-expected quarterly revenue and profit, as the demand for its Creative Cloud package of software tools, which includes Photoshop, continued to rise. Shares of the company were up 3.2 percent at $126.30 in extended trading on Thursday. Adobe, has benefited from its shift to a more predictable revenue stream by selling its software through web-based subscriptions, as opposed to revenue earned through the sale of packaged-licensed software. This shift has helped the company post double-digit revenue growth in the past seven…

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