"Over the coming months, I will be working with Frank Calderoni, our lead director, and the board of directors to identify my successor and to ensure a smooth transition."
"Our mission to empower everyone to create represents an even larger opportunity as content powers all experiences in the AI era. Annualized revenue from AI-first products more than tripled year over year."
"As we accelerate AI-powered capabilities across creativity, productivity and customer experience orchestration, Adobe is well positioned for continued profitable growth. The company delivered 13% subscription revenue growth and record first-quarter cash flow of $2.96 billion."
Adobe CEO Shantanu Narayen announced his departure after 18 years leading the company, with plans to transition once a successor is identified. He will remain as board chair during the search process. Adobe reported strong first-quarter fiscal 2026 results, with earnings per share of $6.06 exceeding analyst estimates of $5.87, and revenue of $6.4 billion surpassing expectations of $6.28 billion. The company achieved 12.1% year-over-year revenue growth and record first-quarter cash flow of $2.96 billion. AI-first product revenue more than tripled year-over-year. For the second quarter, Adobe projects adjusted earnings between $5.80 and $5.85 per share on revenue of $6.43 billion to $6.48 billion, modestly exceeding analyst forecasts. Stock declined 1.43% in after-hours trading following the CEO transition announcement.
Read at Fortune
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