Adobe tops revenue forecasts as AI-driven sales surge and new CEO steps in
Adobe reported $6.76 billion in third-quarter revenue, beating estimates, while AI-focused products drove strong growth and a leadership transition was announced.
Adobe announced third-quarter revenue of $6.76 billion, outpacing analysts’ average forecast of $6.70 billion, and reported adjusted earnings of $6.13 per share, slightly above the $6.09 estimate. The company attributed the beat to growing demand for AI-integrated offerings across its creative and customer-experience suites, noting that AI-first annual recurring revenue grew more than 150 % compared with the prior year.
In a parallel move, Adobe named Anil Chakravarthy as its next chief executive, with current CEO Shantanu Narayen set to become executive chair on Dec. 1. The transition follows the June exit of CFO Dan Durn, whose duties were temporarily assumed by longtime finance executive Steve Day. Additionally, David Wadhwani, president of the Creativity & Productivity division, is slated to step down on Sept. 27, marking a broader reshuffle of senior leadership.
Why it matters
The results show Adobe’s AI strategy boosting earnings and signal a major leadership shift at a leading software firm.
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