Adobe Crushes Q1 With $6.4B Revenue, CEO Narayen Stepping Down
Adobe beats estimates with 12% revenue growth while announcing its longtime CEO will depart once a successor is found.
Adobe just dropped a double bombshell: a strong Q1 earnings beat and a major leadership shakeup.
The design software giant pulled in $6.4 billion in Q1 revenue — up 12% year-over-year and comfortably ahead of the $6.28 billion estimate. Adjusted earnings per share also topped expectations.
Looking ahead, Adobe guided Q2 revenue between $6.43 billion and $6.48 billion, landing right at or above the $6.43 billion estimate. Solid, if not spectacular.
But the bigger headline: longtime CEO Shantanu Narayen is stepping down. He'll remain in the role until a successor is appointed, but the clock is ticking on one of tech's longest-running executive tenures.
Adobe has been aggressively integrating AI across its Creative Cloud and Document Cloud products. The leadership transition raises questions about who steers that strategy next.