“The strategic shift to acquire more freemium customers through Adobe and Firefly, lowers our second half ARR growth expectations from individual subscribers”

In context

“extend our CXO offering. We will deliver this integrated offering that addresses brand visibility at the Cannes Lions, Festival of Creativity later this month. This combination of creativity and marketing uniquely differentiates Adobe. No other company brings together what creatives and marketers can do across our applications and delivery platforms. Adobe Gen Studio ARR grew over 25% year-over-year, reflecting enterprise demand for an end to end solution that spans workflow and planning, creation and production, asset management, activation and delivery, and reporting and insights. Adobe's AI innovation has driven an impressive 3x year-over-year increase in AI first ARR to greater than $500 million We believe now is the time to aggressively acquire the next generation of Adobe loyalists. The strategic shift to acquire more freemium customers through Adobe and Firefly, lowers our second half ARR growth expectations from individual subscribers We believe these changes do make Adobe even stronger. We continue to target double digit total ARR growth for Adobe which now includes the Semrush acquisition. Based on our strong first half revenue performance and the inclusion of Semrush, we are pleased to raise our fiscal year revenue and non GAAP EPS targets. As we announced, Dan Durn, has decided to pursue a new opportunity outside the software industry. I would like to thank Daniel for his contributions to Adobe and wish him well. I am pleased that Steven Day, who has been at Adobe for 20 years, serving in numerous financial leadership roles, serve as interim CFO upon Daniel's departure. I continue to be incredibly energized by Adobe's long term AI opportunity and the innovative products we are delivering to a broader set of custome”