Adobe Q2 Revenue Soars 13% to $6.62B, Raises FY26 Guidance
ADBE•Adobe posted record Q2 revenue of $6.62 billion, up 13% year-over-year, and reported adjusted EPS of $5.96 versus $5.82 expected, yet shares slid on news that CFO Dan Durn is departing. The company raised its fiscal 2026 revenue forecast to $26.5–26.6 billion and lifted adjusted EPS guidance to $24.35–24.45.
1. Q2 Earnings and Financial Results
Adobe delivered record Q2 revenue of $6.62 billion, a 13% increase year-over-year, with adjusted EPS of $5.96 beating the $5.82 consensus. GAAP net income reached $1.71 billion, or $4.25 per share, up from $1.69 billion and $3.94 per share a year ago.
2. CFO Departure and Leadership Transition
CFO Dan Durn will leave Adobe to join Marvell Technology on June 15, prompting the appointment of Steve Day as interim CFO. CEO Shantanu Narayen is also slated to depart once a successor is named, marking parallel executive searches.
3. Raised Fiscal 2026 Guidance
Adobe increased its full-year revenue forecast to $26.5–26.6 billion from $25.9–26.1 billion and lifted adjusted EPS guidance to a range of $24.35–24.45 versus $23.30–23.50 previously. Third-quarter revenue is projected at $6.67–6.72 billion with adjusted EPS of $6.05–6.10.
4. AI Initiatives and User Growth
Annualized recurring revenue reached $27.1 billion, including $480 million from Semrush Holdings. AI-first ARR topped $500 million, tripling year-over-year, while monthly active users climbed to 850 million and the creative freemium base grew to over 90 million.
