ADOBE BEATS EXPECTATIONS BUT ANOTHER TOP EXECUTIVE LEAVES, PUTTING PRESSURE ON ITS STOCK
Adobe's stock dropped over 5% in late trading despite beating Q2 earnings and revenue expectations, as CFO Dan Durn announced his departure effective June 15 — just months after CEO Shantanu Narayen revealed his own plans to step down. The company raised its full-year revenue guidance to between $26.50 billion and $26.60 billion, with Q2 revenue reaching $6.62 billion, up 13% year-over-year. To capitalize on AI-driven demand, Adobe is shifting toward expanding freemium offerings to grow its user base — a move expected to pressure short-term ARR but aimed at building long-term growth.