Adobe Q2 Beats Estimates, Raises FY26 Guidance Despite CFO Departure
ADBE•Adobe reported Q2 revenue of $6.62 billion and earnings of $5.96 per share, beating estimates by $170 million and $0.15 respectively, with subscription revenue up 13–16% year-over-year. The company raised FY26 guidance to $24.35–$24.45 EPS on $26.5–$26.6 billion revenue, but shares fell 5% after CFO Dan Durn’s exit.
1. Strong Q2 Financial Performance
Adobe posted Q2 revenue of $6.62 billion, up 13% year-over-year and $170 million above expectations. EPS was $5.96, $0.15 above forecasts, as business professional subscriptions rose 16% to $1.85 billion and creatives and marketing subscriptions grew 13% to $4.54 billion.
2. Upgraded FY26 Guidance
The company lifted full-year 2026 guidance to $24.35–$24.45 EPS and $26.5–$26.6 billion revenue, surpassing consensus forecasts of $23.54 EPS and $26.06 billion revenue. It also set Q3 revenue at $6.67–$6.72 billion and EPS at $6.05–$6.10, above analyst estimates.
3. Executive Departures
CFO Dan Durn will depart on June 15 to join Marvell Technologies, marking another top executive exit following the announced future CEO succession. Chair and CEO Shantanu Narayen also plans to step down once a successor is appointed while remaining as board chair.
4. Market Reaction
Despite strong results and raised guidance, shares fell about 5% after hours on the CFO departure news as investors voiced concerns that rapid AI adoption could eventually pressure software revenues. The sell-off highlights market sensitivity to leadership changes even during financial outperformance.
