Adobe Systems Shares Fall After Earnings

Adobe Systems Inc. said Tuesday it earned $85 million, or 17 cents a share, in the fiscal first quarter, compared with 9 cents a share a year ago. Adjusted for one-time items, the company reported earnings of 44 cents a share in the quarter, compared with 30 cents a share a year ago and expectations of 39 cents a share according to analysts polled by FactSet. The tech company reported revenues of $1.1 billion for the quarter, compared with $1 billion a year ago and in line with analyst expectations. Shares of Adobe fell 2.5% in after-hours trading Tuesday after ending the regular session up 1.7%.