Adobe’s Profit Falls 59 Percent, but Cloud Subscribers Jump

Adobe Systems Inc.’s fiscal third-quarter profit dropped 59 percent as the software company reported falling product sales and a jump in operating expenses.

But shares rose 5.6 percent to $50.92 in after-hours trading, as Adobe added more “Creative Cloud” subscribers than many Wall Street observers anticipated. The stock has risen 28 percent in 2013 through Tuesday’s close, outperforming the broader market.

Adobe, the maker of Photoshop and Illustrator design software for creative professionals and Web marketers, is transitioning to subscription services and away from packaged software.

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