Adobe Beats Street on Strong Demand for Cloud Tools

March 17, 2016, 8:15 PM UTC
Adobe Systems Inc. Headquarters Campus
Adobe' s Corporate Headquarters is located in San Jose, California, U.S. on Tuesday, Sept.8, 2010. Photographer:Chip Chipman/Bloomberg.
Photograph by Chip Chipman — Bloomberg via Getty Images

Photoshop maker Adobe Systems reported a 24.7 percent rise in quarterly revenue, helped by strong demand for its cloud-based design and digital marketing tools.

The company’s net income rose to $254.3 million, or 50 cents per share, in the first quarter ended March 4, from $84.9 million, or 17 cents per share, a year earlier.

Revenue rose to $1.38 billion from $1.11 billion.

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