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By Tammy Bruce
Topic - Mark Garrett
Adobe Systems Inc. is pulling its Flash software for Web video and games from the browsers of mobile devices, though Flash will still work on mobile apps and on the Web browsers of regular computers.
Adobe Systems Inc. posted a 69 percent jump in quarterly net income Tuesday but its shares tumbled after the software company said its revenue in the current quarter would be less than what Wall Street expected.
Utah officials heralded a major investment by software company Adobe Systems Inc. as a sign that a state that produces many early computer innovations is finally amassing jobs, talent and Fortune 500 operations instead of exporting startups through corporate mergers.
"I wouldn't say we lost to Apple. I'd say we listened to customers," Adobe's chief financial officer, Mark Garrett, said in an interview at the company's meeting with analysts in New York.
Chief Financial Officer Mark Garrett said they were "the only two areas that we saw any particular weakness."