Shares of Adobe (ADBE) are down $2.81, or 9%, at $27.61 after the company this evening said it will restructure its business, including cutting 750 full-time jobs, mostly in North America and Europe.
Adobe plans to focus on and invest “aggressively” in “digital media” and “digital marketing,” it said. It will invest less in development of products for enterprise customers, the company said. That will reduce 2012 revenue growth by 4 to 5 percentage points, the company said, for total revenue growth of 4% to 6%.
Hackers linked to the Russian government used previously unknown flaws in Microsoft Corp.’s Windows and Adobe Systems Inc.’s Flash to try to infiltrate discussions on sanctions policy, a person familiar with the attack said.
The spying scheme was detected on April 13 by U.S. cybersecurity firm FireEye Inc. and targeted an agency of an overseas government that was in discussions with the U.S. about sanctions policy. The attack was halted before the group extracted any data, the company said in a blog post Saturday.
The hacking group, which FireEye calls Advanced Persistent Threat 28, or APT28, is known for advanced cyber-attacks and its use of malware known as Sofacy. In this case, it took the unusual step of using two so-called zero-day exploits to try to infiltrate the computer systems of its victim in a highly sophisticated attack, FireEye said.
“While there is not yet a patch available for the Windows vulnerability, updating Adobe Flash to the latest version will render this in-the-wild exploit innocuous,” FireEye said in a blog post.
Adobe has created a fix for the vulnerability while Microsoft is working on a patch, FireEye said. The flaw does not apply to Windows 8 and later versions.
what a freaking mess they made of it. They choose this subscription model over a floating license model and make it a management nightmare.
then they only allow other people that are not the registered user to view files IF they commit to putting all their data on the cloud. Otherwise, no sharing of techn9ical worker output with management approval people, unless we also get licenses for these people as well.
No wonder Apple banned Adobe from their boxes. This is a mess.
Besides, their web site is unusable, their contact me to try to book a sales is non existent, and their sales people (when you can actually get to them after 15 minutes on hold) are rude and arrogant.
Sales lady "If you would shut up and stop talking I would tell you where the license model is at".
I have bought $50M or more in floating licensed tools and design tools and this model is a mess. a management nightmare for the company, but oh so nice for Adobe. they basically don't care what they impose on their customers.
Adobe Systems ($ADBE -0.67%) rose over 5% in after-hours trading after it reported Q4 adjusted EPS of 62 cents, above consensus of 60 cents, and reported its Q4 creative cloud subscriptions rose 933,000, higher than estimates of 697,000.