Adobe Systems Posts Higher Profit

Adobe Systems Inc. on Tuesday said it earned $147.5 million, or 29 cents a share, in the fiscal second quarter, compared with $88.5 million, or 17 cents a share, a year ago. Adjusted for one-time items, the company earned 48 cents a share in the quarter, compared with 37 cents a share a year ago, it said. Sales reached $1.16 billion, Adobe said. Analysts polled by FactSet had expected adjusted earnings per share of 45 cents on sales of $1.16 billion. Adobe's cloud businesses drove revenue, Adobe's Chief Executive Shantanu Narayen said in a statement. Shares of Adobe declined 0.9% in after hours. The stock ended the regular session 1.3% higher.