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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Adobe Profits Tumble 59% 0 comments
    Sep 18, 2013 8:44 AM | about stocks: ADBE

    Originally published at www.seclive.com

    Adobe Systems, Inc. (NASDAQ:ADBE) announced its third quarter financial results for fiscal year 2013, which saw a decrease in profit but an increase in "Creative Cloud" subscribers, driving its share price up 5.6% in after-hours trading. The Photoshop, Acrobat, and Illustrator maker reported earnings of $83M, or $0.16 per share, a stark contrast to its $201.4M and $0.40 earnings per share reported a year ago. Revenue dropped 7.9% to $995.1M while its operating margin tightened sharply from 25.8% to 11.1%. The company's expenses in areas like research and development as well as marketing increased 8%. Adobe product sales revenue fell 28% while its subscription revenue jumped 73%. Adobe has shifted its focus from a packaged software business to subscription-based business, which has shown considerable growth this quarter, with marketing cloud revenues up 28% from this time last year.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: ADBE
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