Adobe (ADBE) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Sep 10, 2026

After Close (Confirmed)

Period Ending

2026 (Q3)

Consensus EPS Forecast

6.05

Last Year’s EPS

5.31

Same Quarter Last Year

Analyst Consensus

Hold

Based on 25 Analysts Ratings

Earnings Call Summary

Q2 2026

Earnings Call Date:Jun 11, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented multiple strong operating and financial positives — record revenue, ARR growth, large MAU and traffic gains, rapid AI‑first and Firefly ARR traction, sizable SEMrush acquisition, and healthy cash flow and buybacks. Management also articulated a strategic pivot to aggressively grow freemium MAU to capture the AI‑driven opportunity. That pivot and the decision to defer Creative Cloud pricing/line optimizations create an explicit near‑term ARR headwind, plus a small non‑cash impairment and leadership transitions add short‑term risk. On balance, the fundamental business momentum, AI traction, and raised financial targets outweigh the near‑term trade‑offs and risks.

Company Guidance

Adobe raised full‑year FY26 financial targets, now guiding total revenue of $20.5–20.6 billion and non‑GAAP EPS of $24.35–24.45 (GAAP EPS $17.90–18.00), with Business Professionals & Consumers subscription revenue of $7.44–7.48 billion and Creative & Marketing Professionals subscription revenue of $18.21–18.27 billion (including roughly $280M from the SEMrush acquisition); it targets total Adobe ARR growth of 10.2% year‑over‑year off a $25.6B beginning book (Q2 ending ARR was $27.1B, +12.5% Y/Y, with SEMrush adding about $480M ARR). For Q3 FY26 Adobe guides revenue of $6.67–6.72 billion, BP&C subscription revenue of $1.87–1.89 billion, Creative & Marketing subscription revenue of $4.61–4.64 billion, GAAP EPS $4.40–4.45 and non‑GAAP EPS $6.05–6.10; FY assumptions include a ~45% non‑GAAP operating margin (Q3 ~44%), a GAAP tax rate ~22.5% (Q3 ~23%) and a non‑GAAP tax rate ~18%. Q2 exit metrics disclosed: total customer group subscription revenue $6.39B (+14% Y/Y), RPO $22.27B (+13% Y/Y), operating cash flow $2.17B, cash & short‑term investments $5.63B, ~8.5M shares repurchased in the quarter and roughly $27B remaining under buyback authorizations.

Record Revenue and EPS Growth

Q2 revenue of $6.62 billion, up 11% year‑over‑year (13% as reported). GAAP EPS of $4.25 (+8% YoY) and non‑GAAP EPS of $5.96 (+18% YoY). Management cited record top‑line revenue and disciplined investments as drivers of EPS growth.

Strong ARR and Subscription Momentum

Total ending ARR of $27.1 billion, up 12.5% year‑over‑year (includes ~ $480M from SEMrush). Total customer group subscription revenue $6.39 billion, up 14% YoY (12% constant currency). RPO/CRPO exited at $22.27 billion, both up ~13% YoY.

Rapid Growth in AI‑First and Firefly ARR

Adobe reported AI‑first ARR grew approximately 3x year‑over‑year to greater than $500 million. Firefly ARR grew ~50% quarter‑over‑quarter and Firefly ending ARR is approaching $300 million exiting Q2.

Large MAU and Traffic Expansion

Acrobat and Express MAU rose from >700 million to >850 million year‑over‑year (~20% growth). Creative freemium MAU increased from ~50 million to ~90 million YoY (management cited ~70%+ YoY). Adobe.com traffic showed strong increases: business and consumer traffic +35% YoY, while overall creativity/productivity traffic referenced +40% to +50% YoY in segments.

Enterprise Product and Adoption Strength

GenStudio ARR grew >25% YoY. AEP and native apps subscription revenue grew >30% YoY. AEP scale metrics: ~70 billion profile activations and ~35 trillion segment evaluations per day, and >1 trillion experiences delivered per year. Over 80% of AEP/AEM customers using agentic capabilities; 1.5k customer trials for agentic web offerings.

Strategic Acquisition — SEMrush

Closed SEMrush acquisition in April; SEMrush contributed ~ $480 million ARR to Adobe's book of business. Company plans to integrate SEMrush for brand visibility and generative SEO capabilities (announcements planned at Cannes).

Financial Strength and Capital Allocation

Operating cash flow of $2.17 billion in the quarter; cash and short‑term investments of $5.63 billion. Repurchased ~8.5 million shares in Q2 and reported ~$27 billion remaining under authorizations (includes new $25 billion authorization announced in April).

Raised Full‑Year Revenue and Non‑GAAP EPS Targets

Given strong first‑half performance and SEMrush inclusion, management raised FY26 revenue and non‑GAAP EPS targets. FY revenue target set at $20.5–20.6 billion and non‑GAAP EPS target set at $24.35–24.45.

Adobe (ADBE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ADBE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 10, 2026	2026 (Q3)	6.05 / -	5.31	―	―	―
Jun 11, 2026	2026 (Q2)	5.82 / 5.96	5.06	17.79% (+0.90)
Mar 12, 2026	2026 (Q1)	5.87 / 6.06	5.08	19.29% (+0.98)
Dec 10, 2025	2025 (Q4)	5.40 / 5.50	4.81	14.35% (+0.69)
Aug 29, 2025	2025 (Q3)	5.18 / 5.31	4.65	14.19% (+0.66)	―	―
Jun 13, 2025	2025 (Q2)	4.97 / 5.06	4.48	12.95% (+0.58)
Mar 12, 2025	2025 (Q1)	4.97 / 5.08	4.48	13.39% (+0.60)
Dec 11, 2024	2024 (Q4)	4.67 / 4.81	4.27	12.65% (+0.54)
Sep 12, 2024	2024 (Q3)	4.53 / 4.65	4.09	13.69% (+0.56)	―
Jun 13, 2024	2024 (Q2)	4.39 / 4.48	3.91	14.58% (+0.57)

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

ADBE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 11, 2026	$218.80	$204.02	-6.76%
Mar 12, 2026	$269.78	$249.32	-7.58%
Dec 10, 2025	$343.13	$350.43	+2.13%
Aug 29, 2025	$356.70	$345.63	-3.10%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.