Deals
Adobe Buying Fotolia as Cloud Subscriptions Fuel Revenue
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Adobe Systems Inc. reported fiscal fourth-quarter revenue that topped estimates as the software maker pushes deeper into delivering programs via the Web to expand its business, an effort bolstered by a deal to buy stock-photography provider Fotolia LLC for about $800 million.
Sales in the period ended Nov. 28 were $1.07 billion, and profit before certain items was 36 cents a share, Adobe said in a Dec. 11 statement. Analysts on average projected revenue of $1.06 billion and profit of 30 cents.