Adobe's quarterly profit falls on higher expenses

(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)

Source: http://news.yahoo.com/adobes-quarterly-profit-falls-higher-expenses-201218908--sector.html

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