By Sruthi Ramakrishnan
(Reuters) - Adobe Systems Inc, which makes the Photoshop and Acrobat software, reported a higher-than-expected adjusted quarterly profit as demand rose for Creative Cloud, the subscription-based version of its flagship software package.
Shares of the company rose 4.4 percent in after-market trading. They closed at $43.36 on the Nasdaq on Tuesday.
Adobe has been shifting to web-based subscription service Creative Cloud from a licensing model since last year. The company said it added 221,000 paid Creative Cloud subscribers in the latest quarter, taking the total to 700,000.