5.3 million people now subscribe to Adobe’s Creative Cloud service, the company revealed in its third quarter 2015 earnings report today.
Adobe hopes to hit nearly 6 million paid subscribers before 2015’s end. The company added 684,000 new subscribers in the third quarter, 639,000 in Q2, 517,000 in Q1, and 644,000 in Q4 of 2014. Adobe will have to add about 700,000 subscribers next quarter to meet its goal. Judging from the past few quarters, Adobe may fall just a bit short of that milestone.
Adobe boasts that it saw “record” revenues of $1.22 billion and $0.50 earnings per share for the third quarter. Analysts, on average, expected the company to rake in $1.21 billion in revenue and $0.50 earnings per share. So that’s good for Adobe. And yet, Adobe is trading down after hours. Aside from following the direction of others — Microsoft, Apple, and the Nasdaq are also down — Adobe announced a few leadership changes, and that may have shaken investors.
Specifically, senior digital business VP David Wadhwani is leaving the company “to pursue a CEO opportunity.” Document Cloud lead Bryan Lamkin will take over his role.