Quick Facts

  • Adobe achieved record Q2 revenue of $6.62 billion, beating analyst expectations of $6.46 billion
  • CFO Dan Durn will leave June 15 to join Marvell Technologies after nearly five years at Adobe
  • Adobe stock dropped 5% in after-hours trading despite raising full-year guidance

Adobe reported record second-quarter revenue of $6.62 billion on June 11, growing 13% year-over-year and surpassing Wall Street expectations. The software giant earned $5.96 per share on an adjusted basis, beating analyst forecasts of $5.82.

The strong financial results were overshadowed by news that Chief Financial Officer Dan Durn will leave the company on June 15 to pursue a new opportunity at Marvell Technologies. Durn served as CFO for nearly five years.

Steve Day, senior vice president of corporate finance, will serve as interim CFO. Day brings 20 years of financial leadership experience at Adobe to the role.

“Adobe delivered record revenue of $6.62 billion in Q2 reflecting strong AI-driven demand across our customer groups,” said CEO Shantanu Narayen. The company raised its full-year 2026 outlook, projecting earnings between $24.35 and $24.45 per share on revenue of $26.5 billion to $26.6 billion.

Adobe’s AI-first annual recurring revenue increased three times year-over-year to more than $500 million. Total ending ARR reached $27.1 billion, rising 12.5% year-over-year.

The executive departure marks Adobe’s second major leadership change in three months. Narayen announced in March that he will step down as CEO once a successor is found, ending his 18-year tenure.

Despite beating expectations, Adobe shares fell 5% in after-hours trading following Durn’s announcement. The stock is down 25% year-to-date amid broader concerns about AI’s impact on software companies.

Cash flows from operations reached $2.17 billion in the quarter. Creative and Marketing Professionals subscription revenue rose 13% to $4.54 billion, while Business Professionals & Consumers subscription revenue grew 15% to $1.85 billion.

Read more: Adobe beats expectations but another top executive leaves, putting pressure on its stock

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