If you are using Acrobat XI pro then you can surely reduce pdf size. Here's how to do it:
Open the file in Acrobat-> Go to File -> Save as Other -> 'Reduce Size PDF'.
If you are an advanced user you can also chose to save the file as 'Optimized PDF', It would provide you more options that might help you reduce the size of the pdf.
Please let me know if you need any further assistance.
Regards,
Rahul