11:45 ET -- Adobe's annual recurring revenue growth is being weighed down by new AI-related trends, Deutsche Bank analysts say. Customers are increasingly using generative AI instead of Adobe Stock, its library of images and other visuals. That trend shaved off about 30 basis points from ARR growth, the analysts estimate. Secondly, customers are using more free products as Adobe aims to attract engagement with new AI tools. Creative "freemium" monthly active users increased 50% year over year, the analysts say. The analysts expect ARR growth will increase in the second half of the year, which could limit Adobe's ability to beat its own guidance. Shares are down about 7%. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

March 13, 2026 11:45 ET (15:45 GMT)

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