Reuters: Technology News: Adobe's quarterly profit falls on higher expenses

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Adobe's quarterly profit falls on higher expenses Mar 19th 2013, 20:12 Tue Mar 19, 2013 4:12pm EDT (Reuters) - Adobe Systems Inc, maker of Photoshop and Acrobat software, reported a 65 percent fall in quarterly profit, hurt mainly by higher expenses. Net income fell to $65.1 million, or 13 cents per share, in the first quarter, from $185.2 million, or 37 cents per share, a year earlier. Revenue fell 4 percent to $1 billion. Expenses rose 16 percent to $753 million. (Reporting by Chandni Doulatramani and Supantha Mukherjee in Bangalore; Editing by Sriraj Kalluvila)

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