Adobe is dropping on the resignation of its long-term CEO, while Ulta Beauty and SentinelOne are falling after earnings reports.
Adobe (NASDAQ: ADBE) stock enjoyed a significant rally on March 3 and March 4 as rumors that the legendary ‘Big Short' investor Michael Burry made a ‘significant' investment in the software company.
Adobe's shares plunged 9% in premarket trading on Friday after the Photoshop maker said CEO Shantanu Narayen would step down after 18 years at the helm, unsettling investors already wary of AI-driven disruptions to the design software market.
Adobe's revenue growth rate accelerated in its most recent quarter. The company is using the stock's recent weakness as an opportunity to aggressively repurchase shares.
Revenue: $6.40 billion in Q1, representing 11% year-over-year growth.GAAP Earnings Per Share (EPS): $4.60, with 11% year-over-year growth.Non-GAAP Earnings Per
Adobe Inc. (ADBE) Q1 2026 Earnings Call Transcript
While the top- and bottom-line numbers for Adobe (ADBE) give a sense of how the business performed in the quarter ended February 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Adobe has had a tough time convincing investors to support its stock. Could a new CEO win them back?
Adobe Systems (ADBE) came out with quarterly earnings of $6.06 per share, beating the Zacks Consensus Estimate of $5.88 per share. This compares to earnings of $5.08 per share a year ago.
Adobe's fiscal first-quarter results largely cleared Wall Street's bar, but its modest earnings beat for the period wasn't enough to disprove the narrative around artificial-intelligence disruption that's weighed on software stocks.
Gil Luria, D.A. Davidson technology research head, says Adobe investors will be in limbo until a successor to departing CEO Shantanu Narayen can be found.
Adobe Inc (NASDAQ:ADBE) shares fell more than 6% after the software maker reported its fiscal first quarter results, as investors reacted to the company's weak quarterly profit outlook and a planned leadership transition despite headline beats on revenue and earnings. The company reported revenue of $6.4 billion for the quarter ended February 27, up 12% year-over-year.