Adobe Systems climbs on subscription revenue

Adobe Systems Inc., the Photoshop software maker, said fourth-quarter profit shrank as a shift to cloud-based software cuts into profitability. The results fell short of expectations, but subscription-based revenue jumped 85 percent, boosting shares. Adobe earned $65.3 million, or 13 cents per share. That's down from $222.3 million, or 44 cents, last year. Revenue fell 10 percent to $1.04 billion. Analysts expected $1.03 billion. Paid Creative Cloud subscriptions grew 402,000 from the end of the...