🔴 ADBE is trading 8.89% down today on CEO transition and slowing ARR growth

ADBE is trading at $245.79 (-8.89%) in pre-market following the announcement that CEO Shantanu Narayen will step down after 18 years, overshadowing a Q1 earnings beat.

• While Q1 revenue grew 12% to $6.4B and non-GAAP EPS beat estimates at $6.06, shares fell as ARR growth slowed to 10.9% amid concerns over AI disruption.
• Q2 revenue guidance of $6.43B–$6.48B met expectations but lacked acceleration signals, despite AI revenue tripling and strong Firefly adoption.