Adobe Inc. · Q3 FY2026
ReportedSep 10, 2026
Period endedAug 28, 2026
Rule of 40+49
Consensus vs reported
EPS · NON-GAAP
BEAT +1%
$6.13
vs $6.08 expected
QoQ+2.9%
YoY+15.4%
Revenue
BEAT +1%
$6.76B
vs $6.69B expected
QoQ+2.1%
YoY+12.9%
QoQ and YoY are measured on the same basis as each panel's own consensus, so no panel compares two different measures.
The quarter in short
Revenue $6.76B, up 12.9% year over year and 2.1% on the quarter. Non-GAAP EPS $6.13, up 15.4% year over year and 2.9% on the quarter. GAAP EPS $4.62. Free cash flow $2.44B, up 14.7% year over year and 15.7% on the quarter. Non-GAAP EPS beat consensus by 1%. Rule of 40 score +49.
Reported this quarter
Revenue
$6.76B
QoQ +2.1%
YoY +12.9%
EPS · NON-GAAP
$6.13
QoQ +2.9%
YoY +15.4%
EPS · GAAP
$4.62
QoQ +8.7%
YoY +10.5%
Free Cash Flow
$2.44B
QoQ +15.7%
YoY +14.7%
Gross Margin
88.7%
QoQ −0.5 pp
YoY −0.6 pp
FCF Margin
36.1%
QoQ +4.2 pp
YoY +0.6 pp
P/E Ratio
16.4
QoQ +10.2%
YoY −26.5%
Each tile opens the full quarterly series. Download the numbers as CSV or JSON.
What we learned
- Beat on Adobe's own basis, and the feed matched nothing. Non-GAAP EPS $6.13 vs $6.08 and revenue $6.76 billion vs $6.69 billion, both above the guide; the syndicated $4.86 estimate matched neither printed figure.
- The EPS wedge printed $1.51. Under the guided $1.65 and May's $1.71 — but May carried $0.24 of one-offs, so ex-items the gap ran $1.13, $1.47, $1.51: still widening. The Q4 guide puts it back at $1.65.
- AI-first ARR swapped a level for a rate. Growth of more than 150% replaces May's "tripled past $500 million." Total ARR reached $27.5 billion, up $0.4 billion, with 10.2% growth guided for the year.
- Shares fell 6.8% on a $2.2 billion quarterly buyback, 4.1 times the $544 million stock-comp add-back. Operating cash flow was a record Q3 $2.52 billion; free cash flow $2.44 billion.
- Both top seats are in transition. Narayen's quote hands momentum to Chakravarthy, CEO from 1 December, and the CFO line is signed by an interim. Full-year targets rose again; the FY2027 guide lands under the new CEO.
Coverage around this release
R40
ADBE Q3 FY2026 reported earnings analysis
News · Sep 11, 2026
R40
Adobe's Last Two Quarters Are Beats on One Feed and Misses on Another. Tonight the Bars Are $1.21 Apart.
News · Sep 10, 2026
R40
ADBE Q3 FY2026 earnings preview
News · Sep 10, 2026
R40
Adobe Joins Coverage: Ten Straight Quarters Above 40 and a Multiple Cut by Two Thirds.
News · Aug 31, 2026
Estimate against reported
Our published estimate
Reported EPS
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| 2024 Q4 | — | $3.78 | — |
| 2025 Q1 | — | $4.14 | — |
| 2025 Q2 | — | $3.94 | — |
| 2025 Q3 | — | $4.18 | — |
| 2025 Q4 | — | $4.44 | — |
| 2026 Q1 | — | $4.60 | — |
| 2026 Q2 | — | $4.25 | — |
| 2026 Q3 | $6.08 | $6.13 | +1% |
Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.
Sources & downloads
Company
Published by the company on the day of the release.
HTML
Earnings press release
Investor relations announcement
SEC filings
Filed with the SEC under CIK 796343.
JSON
Company facts (XBRL)
Every figure ADBE has reported to the SEC
R40 data
The numbers shown on this page, as we hold them.
CSV
This quarter (CSV)
Reported metrics for Q3 FY2026, spreadsheet-ready
JSON
This quarter (JSON)
Metrics, dates and matched filings