SAN JOSE (KCBS) – Adobe is getting cheered by investors after topping earnings expectations.
The news is a nice 180 after the San Jose software firm’s shares took a dive in after hours trading as Adobe announced a number of management changes.READ MORE: Dire Dixie Fire Warning: 'Evacuate To The East Immediately'; Wind-Whipped Flames Close In On Chester
The positive response could also be a good sign for other firms, like Adobe, who are transitioning their legacy software customers to cloud software and services.READ MORE: UPDATE: River Fire Erupts in Nevada and Placer Counties; Evacuations Ordered in Colfax
While cloud growth is big, companies don’t see all the money on sales up front like traditional software, spreading it out over time, and that’s resulted in near-term pressure on earnings for a number of software companies.MORE NEWS: SF Hospital Needs Help Identifying Patient In Critical Condition
Adobe’s shares are making an impressive run higher, considering the overall market is down.