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Adobe Drops On Q1 Report
Description
Adobe beat Q1 estimates with $6.40B in revenue and $6.06 EPS, up 12% YoY, as AI-first ARR more than tripled. Shares fell after hours after CEO Shantanu Narayen announced he will step down once a successor is named, while full-year revenue guidance of $25.90B–$26.10B was affirmed.
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