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: 'He's In Good Spirits;' Former OPD Capt. Ersie Joyner Recovering After Shooting; Remains in ICU
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: Fremont Neighbors Of Movie Director Joel Souza Stunned Over Shooting On Set Of Alec Baldwin Movie
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: Pfizer Scientist Testifies Against Holmes in Theranos Trial
Adobe’s shares are making an impressive run higher, considering the overall market is down.