Adobe Inc. Q3 FY2026 Earnings Results vs. Expectations
ReportsSep 10, 2026
SlotAfter Market Close
Results are out
This quarter has reported. The consensus below is what we expected going in.
What the Street expects
EPS · NON-GAAP
$6.08
Guided $6.05 to $6.10
QoQ+2.0%
YoY+14.5%
Revenue
$6.69B
Guided $6.67B to $6.72B
QoQ+1.1%
YoY+11.7%
QoQ and YoY are what the consensus implies against the prior quarter and the prior year.
Also on the card
EPS consensus source
Press-reported estimate feeds, 10 Sep 2026; Adobe non-GAAP basis
GAAP EPS guide
$4.40 to $4.45, same quarter, same table as the non-GAAP guide
Nasdaq/Zacks basis differs
Its $4.86 is neither GAAP nor Adobe non-GAAP; do not pair it
GAAP-to-non-GAAP wedge
$1.65 at the guided Q3 midpoints, $1.71 in Q2 FY2026
Prior-year non-GAAP
$5.31 in Q3 FY2025 on $5.99B revenue
What to watch
- Which EPS the coverage compares. Adobe prints GAAP and non-GAAP in one sentence. A beat measured against $4.86 measures nothing; the comparison the guide supports is $6.08 against the reported non-GAAP figure.
- AI-first ARR. It tripled year over year and passed $500 million in the May quarter, against a $250 million target for all of FY2025. It is the youngest disclosure Adobe volunteers and the one the market trades.
- Total ARR, and how much was bought. ARR exited May at $27.10 billion, roughly $480 million of it Semrush, which also added about $40 million of subscription revenue. Ex-Semrush growth is the organic read.
- Whether the full-year guide moves again. Adobe raised FY2026 revenue and non-GAAP EPS in June; the targets now stand at $26.50–26.60 billion and non-GAAP $24.35–24.45.
- What the handover changes. Anil Chakravarthy becomes chief executive on 1 December and Narayen moves to executive chair. Tonight is one of Narayen's last calls; December's FY2027 guide is the first under his successor.
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.
Every quarter
Read the full preview → Q3 FY2026 release page View ADBE stock page