Adobe (Adobe (ADBE)) reported fiscal second-quarter results after the bell Thursday that beat expectations on both the top and bottom lines. But the good news was tempered by the announcement that CFO Dan Durn is leaving the company, sending shares down more than 6% in after-hours trading.

Here's the rundown.

The Numbers

Adobe posted Q2 revenue of $6.62 billion, topping the analyst consensus of $6.46 billion. Adjusted earnings came in at $5.96 per share, also ahead of the $5.82 estimate. Revenue grew 13% year-over-year, driven by a 14% jump in subscription revenue from its customer groups, which hit $6.39 billion.

The company's AI-first annualized recurring revenue (ARR) more than tripled from a year ago, crossing $500 million. Total ARR stood at $27.10 billion. Remaining performance obligations — a measure of future contracted revenue — were $22.27 billion at quarter-end. Adobe also held $4.92 billion in cash and equivalents.

“Adobe delivered record revenue of $6.62 billion in Q2 reflecting strong AI-driven demand across our customer groups and we are raising our full-year fiscal 2026 revenue and non-GAAP EPS targets on the strength of that performance,” said CEO Shantanu Narayen in a statement.

Guidance Raised

For the third quarter, Adobe expects revenue between $6.67 billion and $6.72 billion, above the $6.51 billion consensus. Adjusted EPS is forecast at $6.05 to $6.10, well ahead of the $5.77 estimate.

The company also lifted its full-year revenue outlook from a prior range of $25.90 billion to $26.10 billion to a new range of $26.50 billion to $26.60 billion, versus the $26.04 billion analysts were looking for. Full-year adjusted EPS guidance was raised from $23.30–$23.50 to $24.35–$24.45, compared to the $23.52 consensus.

CFO Departure

In a separate announcement, Adobe said CFO and Executive Vice President Dan Durn will leave the company on June 15 to pursue a new opportunity. Steve Day, senior vice president of Corporate Finance and CFO of Adobe's Customer Experience Orchestration business unit, will serve as interim CFO.

Management will discuss the quarter in more detail on an earnings call at 5 p.m. ET.

Market Reaction

Despite the beat and raised guidance, Adobe shares fell 6.20% in after-hours trading to $205.24 at the time of publication. The CFO departure likely spooked investors, overshadowing the otherwise strong quarter.