Adobe Stock Plummets Post-cfo Departure Despite Solid Q2 Performance

WHO:

Yahoo Finance - Dan Durn will join Marvell Technologies after leaving Adobe.

Techmeme - Dan Durn, CFO of Adobe, is leaving the company.

Yahoo Finance - Shantanu Narayen, Chair and CEO of Adobe.

WHAT:

Yahoo Finance - Adobe's Q2 revenue was reported at $6.62 billion, exceeding estimates of $6.45 billion.

Yahoo Finance - Adobe's Q3 earnings are projected to be between $6.05 and $6.10 per share, compared to average estimates of $5.77 per share.

Yahoo Finance - Adobe's updated FY26 earnings projections are between $24.35 and $24.45 per share, surpassing Wall Street's expectations of $23.54 per share.

Techmeme - Adobe reported Q2 revenue of $6.62 billion, a 13% year-over-year increase, exceeding estimates of $6.46 billion.

Yahoo Finance - Adobe's Q2 earnings were $5.96 per share, beating expectations of $5.81 per share.

Yahoo Finance - Adobe's stock dropped about 5% after-hours following the CFO's departure.

Yahoo Finance - Adobe expects Q3 revenue between $6.67 billion and $6.72 billion, higher than analyst expectations of $6.46 billion to $6.67 billion.

Yahoo Finance - Adobe projects FY26 earnings between $24.35 and $24.45 per share on revenue of $26.5 billion to $26.6 billion.

WHERE:

Yahoo Finance - Adobe is headquartered in San Jose, California.

WHEN:

Yahoo Finance - Dan Durn will leave Adobe on June 15, 2026.

WHY:

Yahoo Finance - The departure of CFO Dan Durn raised concerns among investors, overshadowing strong Q2 results and FY26 guidance.

Yahoo Finance - Shantanu Narayen stated that AI is accelerating customer behavior, necessitating an evolution in strategy and execution.

HOW:

Yahoo Finance - Adobe raised its annual revenue outlook following the Q2 performance.

Yahoo Finance - Adobe raised its annual revenue and profit forecasts following the Q2 performance.

(UPDATED June 12, 2026 17:53 UTC)

Dan Durn will be joining Marvell Technologies after his departure from Adobe. In the latest financial report, Adobe announced a Q2 revenue of $6.62 billion, surpassing estimates of $6.45 billion, and raised its annual revenue outlook as a result. Looking ahead, Adobe's Q3 earnings are projected to be between $6.05 and $6.10 per share, while updated FY26 earnings projections are set between $24.35 and $24.45 per share, exceeding Wall Street's expectations of $23.54 per share.

--

(UPDATED June 12, 2026 06:34 UTC)

Adobe has announced that CFO Dan Durn will be leaving the company on June 15, 2026, a move that has raised concerns among investors despite the company reporting strong Q2 results with revenue of $6.62 billion, a 13% increase year-over-year. The company also exceeded earnings expectations, posting $5.96 per share, but saw its stock drop about 5% in after-hours trading following the news of Durn's departure. Looking ahead, Adobe expects Q3 revenue between $6.67 billion and $6.72 billion and projects FY26 earnings between $24.35 and $24.45 per share, with total revenue estimated at $26.5 billion to $26.6 billion.