EarningsQ3 2026 Earnings Report
MX:ADBE Q3 2026 EPS Results
Actual EPS$110.92
Consensus EPS$109.93
Beat/MissBeat by +$1.00
One Year Ago EPS$96.09
MX:ADBE Q3 2026 Revenue Results
Actual Revenue$122.32B
Expected Revenue$121.13B
Beat/MissBeat by +$1.20B
YoY Revenue Growth+12.89%
Earnings Announcement Details
QuarterQ3 2026
Date09/10/2026
TimeAfter Close
Conference CallThursday, September 10, 2026
MX:ADBE Upcoming Earnings
Adobe's next earnings date is estimated for December 9, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:ADBE Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, supported by record revenue and cash flow, double-digit subscription and ARR growth, substantial expansion in monthly active users, accelerating Firefly usage, strong enterprise activity, and raised full-year revenue and EPS targets. The main challenges were single-digit RPO growth, a 36% to 37% year-over-year decline in net new ARR, the stated near-term headwinds from the freemium strategy and deferred pricing initiatives, and a slight Q4 FX headwind. Highlights significantly outweighed the lowlights.Company Guidance
Record Q3 Revenue and EPS Growth
Adobe achieved record Q3 revenue of $6.76 billion, growing 13% year over year as reported and 12% in constant currency. GAAP EPS was $4.62, up 11% year over year, while non-GAAP EPS was $6.13, up 15%.
Strong ARR, Subscription Revenue, and Cash Flow
Total Adobe ending ARR reached $27.5 billion, growing 11.2% year over year. Customer group subscription revenue was $6.56 billion, up 14% year over year as reported and 13% in constant currency. Cash flow from operations was a Q3 record of $2.52 billion, and ending cash and short-term investments were $5.64 billion.
Share Repurchases and Capital Authorization
Adobe repurchased approximately 9.5 million shares during Q3, fully utilized its March 2024 authorization, and had approximately $24.55 billion remaining under its April 2026 authorization.
Business Professionals and Consumers Growth
Business professionals and consumer subscription revenue was $1.91 billion, increasing 16% year over year as reported and 15% in constant currency. Ending ARR grew double digits year over year across all geographies, with strong SMB performance across inside sales and the reseller channel.
Broad User Base Expansion
Adobe reported more than 1 billion monthly active users across its businesses, growing more than 20% year over year. Business professionals and consumer MAU grew more than 25% year over year to over 900 million, while Acrobat Plus Express MAU also surpassed 900 million.
Acrobat AI Adoption and Product Expansion
Acrobat AI Assistant MAU doubled quarter over quarter, and Adobe reported strong enterprise adoption of Acrobat AI capabilities among ETLA customers. New capabilities include interactive reports, summary slides, audio formats such as personal podcasts, knowledge base, analyzer, and globally available student spaces for higher education.
Creative and Marketing Subscription Growth
Creative and marketing professional subscription revenue was $4.65 billion, increasing 13% year over year as reported and 12% in constant currency. Adobe cited continued strength in Creative Cloud across teams and enterprise offerings, as well as continued strength in retention across the enterprise customer base.
Creative Freemium Expansion
Creative freemium MAU, including Firefly, Express, and web and mobile versions of Premiere, Photoshop, and Lightroom, surpassed 100 million and grew more than 70% year over year.
Firefly Monetization and Usage Momentum
AI-first ending ARR exceeded $650 million and grew more than 150% year over year. Firefly ending ARR across the Firefly app and Firefly credit packs grew 40% quarter over quarter, while AI credit consumption accelerated quarter over quarter across Creative Cloud and the Firefly app.
Expanded Firefly Creative Capabilities
Adobe added native generation of music, speech, and sound effects to Firefly, along with creative skills and tools such as create storyboard and create brand kit. The Adobe Creative Agent was expanded to Photoshop and Premiere, and Adobe introduced a new AI-assisted editor in Photoshop beta.
Topaz Labs Acquisition Agreement
Adobe announced an agreement to acquire Topaz Labs, whose AI enhancement technology spans imaging and video. Topaz Labs has over 1 million users, and Adobe said its technology will be integrated across Creative Cloud, Firefly, and Firefly Enterprise. The transaction is expected to close in Q4, subject to regulatory approvals and customary closing conditions.
Enterprise Customer Experience Growth
Ending ARR grew more than 20% year over year for each of Adobe Experience Manager and Agentic web apps, Adobe Gen Studio, and Adobe Experience Platform and apps. Adobe also reported continued strength in subscription services driven by forward-deployed engineering and strategic value realization engagements.
Brand Visibility and CX Enterprise Adoption
Adobe combined Semrush's AI visibility intelligence with Adobe's agentic content optimization capabilities to launch Adobe Brand Visibility. The company cited customer interest in its database of nearly 300 million real-world AI search prompts, and the number of paid customers for brand visibility solutions doubled quarter over quarter.
Enterprise Customer Wins and Recognition
Q3 customer wins included Amazon, Deutsche Post DHL, Honeywell, T-Mobile, Renault, Los Alamos National Laboratory, Academy Sports, Disney, Jet2, Publicis, Premier League, IKEA, Marriott, Vanguard, and Wells Fargo. Adobe was named a top leader in two Forrester Waves and received recognition in two IDC MarketScapes for AI-enabled customer data platforms.
International and Strategic Partnerships
Adobe expanded its partnership with Saudi Arabia's Ministry of Communications and Information Technology and Humane to enable the nation's 27 million citizens and residents with Adobe Firefly and Express, while supporting development of an image-generation model tuned to Saudi culture. Disney Imagineering is integrating Firefly Foundry into its theme park design toolkit.
Raised Full-Year FY2026 Targets
Adobe raised its FY2026 targets to total revenue of $26.576 billion to $26.626 billion, GAAP EPS of $18.12 to $18.17, and non-GAAP EPS of $24.45 to $24.50. The company maintained its total Adobe ending ARR book-of-business growth target of 10.2% year over year and expects approximately 45% non-GAAP operating margin.
Q4 Guidance Increase
For Q4 FY2026, Adobe is targeting revenue of $6.8 billion to $6.85 billion, business professionals and consumer subscription revenue of $1.93 billion to $1.95 billion, creative and marketing professional subscription revenue of $4.665 billion to $4.695 billion, GAAP EPS of $4.65 to $4.70, and non-GAAP EPS of $6.30 to $6.35.
Leadership Transition and Agentic Software Strategy
Shantanu Narayen will become Executive Chair, and Anil Chakravarthy will become president and chief executive officer and join the board effective December 1. Management described a strategy to lead in agentic software across creativity, productivity, and customer experience, supported by model flexibility, enterprise data and context, governed workflows, and Adobe's existing platforms and customer base.
MX:ADBE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed