Adobe Systems (NASDAQ:ADBE) announced a a 65 percent drop in quarterly profit due to higher expenses. Net income fell to $65.1 million, or 13 cents per share from $185.2 million, or 37 cents per share in the same period last year. Revenue fell by four percent to $1 billion, while expenses increased by 16 percent to $753 million.l
Shares are higher by about 6.5 percent in after hours trading.
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