Adobe Subscription Shift Happens Faster Than Expected
Results from Adobe Systems Inc. on Wednesday afternoon whipsawed investors, who were at first concerned about the software maker’s disappointing forecast but later assuaged by the company’s report of a faster-than-expected shift to a subscription model.
Shares of Adobe fell as much as 3 percent in after-hours trading on Wednesday following the report, but later cooled to only a fractional decline. The stock closed the regular session up 1.7 percent at $33.12.
