Adobe Systems (ADBE) Shares Up 5% After Earnings Report

Shares of Adobe Systems Incorporated (Nasdaq: ADBE) were up more than 5% in after hours trading after the company reported better than expected 1st quarter earnings.

Adobe Systems Incorporated reported that its 1st quarter net income fell to $127.2 million, or 24 cents per share, down from $156.4 million, or 30 cents per share, a year earlier.

Excluding special items, the software company earned 40 cents per share.

Adobe Systems also reported that its revenue rose 8% to $858.7 million.

According to a poll of analysts by Thomson Reuters, the average expected earnings per share excluding items was 37 cents on revenue of $827.4 million.