Adobe Inc. (ADBE) Earnings
Adobe Inc. is expected to report next earnings on June 11, 2026 (in NaN days), with a consensus EPS estimate of $5.83. ADBE has beaten EPS estimates in 12 of its last 12 reported quarters (average surprise +2.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Mar 12, 2026 | $5.87 | $6.06 | +3.2% | $6.4B | +1.9% |
| Dec 10, 2025 | $5.40 | $5.50 | +1.9% | $6.2B | +1.4% |
| Sep 11, 2025 | $5.18 | $5.31 | +2.5% | $6.0B | +1.2% |
| Jun 12, 2025 | $4.97 | $5.06 | +1.8% | $5.9B | +1.3% |
| Mar 12, 2025 | $4.97 | $5.08 | +2.2% | $5.7B | +0.9% |
| Dec 11, 2024 | $4.66 | $4.81 | +3.2% | $5.6B | +1.2% |
| Sep 12, 2024 | $4.53 | $4.65 | +2.6% | $5.4B | +0.7% |
| Jun 13, 2024 | $4.39 | $4.48 | +2.1% | $5.3B | +0.3% |
| Mar 14, 2024 | $4.38 | $4.48 | +2.3% | $5.2B | +0.7% |
| Dec 13, 2023 | $4.13 | $4.27 | +3.4% | $5.0B | +0.6% |
| Sep 14, 2023 | $3.97 | $4.09 | +3.0% | $4.9B | +0.5% |
| Jun 15, 2023 | $3.78 | $3.91 | +3.4% | $4.8B | +8.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · March 12, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- AI transformation with customer-centric product strategy, targeting business professionals and consumers with AI-infused products. - Growth drivers include new user acquisition (Creative Freemium MAU crossed 80 million, growing 50% year-over-year), AI usage growth (generative credit consumption increased more than 45% quarter over quarter), and enterprise adoption of content automation solutions. - Product innovations like Adobe Acrobat Studio, integrations with leading AI platforms, and partnerships to drive new user acquisition and workflow efficiencies.
Guidance
For Q2 fiscal 2026, targeting total Adobe revenue of 6.43 to 6.48 billion, business professionals and consumers subscription revenue of 1.80 to $1.82 billion, creative and marketing professional subscription revenue of $4.41 to $4.44 billion, GAAP EPS of $4.35 to $4.40, and non-GAAP EPS of $5.80 to $5.85. Expect total Adobe ARR growth of 10.2% for FY26.
Segment performance
Business professionals and consumers' subscription revenue was $1.78 billion, increasing 16% year-over-year as reported, or 15% in constant currency. Creative and marketing professional subscription revenue was $4.39 billion, increasing 12% year-over-year or 11% in constant currency. ARR from AI-first applications more than tripled year over year. Acrobat and Express MAU grew approximately 20% year-over-year. Acrobat AI Assistant ARR grew approximately 3x year-over-year. Gen Studio and AEP and Apps ending ARR each grew over 30% year over year.
Risks & headwinds
Traditional stock business saw a steeper decline than expected, playing out more quickly than planned.
Analyst Q&A
Q: Jay Fleishar's question about RPO progression.
A: Dan's response on pleased with progression and no reason to expect different dynamic in RPO.
Q: Saket Kalia's question on board looking for in next CEO.
A: Shantanu's response on product company, growth agenda, and people values.
Q: Brad Zelnick's question on generative credit consumption in video and audio.
A: David's response on AI evolution, more people generating, higher modalities, and ramp in existing professionals adding packs.
Q: Mark Murphy's question on revenue acceleration.
A: Shantanu's response on product innovation, user adoption, enterprise pipeline, and stock business impact.
Q: Keith Weiss's question on foundation building initiatives.
A: Shantanu's response on creativity core, business professional and consumer growth, and early indicators like MAU.
Q: Alex Zukin's questions on AI MAU impact on ARR and CEO search timeline.
A: Shantanu's response on traffic patterns, phase shift, and CEO search taking a few months; David's addition on creativity evolution and traffic routing.
Q: Matt Swanson's question on partnerships and monetization.
A: Shantanu's response on enterprise customer experience orchestration, partnerships with ad platforms, and model support.
Q: Brent Tho's questions on monetization confidence and capital allocation.
A: Shantanu's response on confidence in monetization strategy; Dan's response on capital allocation framework and SEMrush acquisition.
Q: Michael Turin's question on margin vs growth.
A: Shantanu's response on spending for long-term value, tracking token usage, and continuing to invest in newer initiatives