Adobe reports Q3 earnings with revenue hitting $6.76B and EPS of $6.13, beating estimates

Adobe just turned in a Q3 FY2026 earnings report that made Wall Street’s estimates look timid. The company posted $6.76 billion in revenue, a 13% jump year-over-year, alongside non-GAAP diluted earnings per share of $6.13. Both figures landed above analyst expectations, and Adobe responded by raising guidance for the rest of the year.

The results, reported on September 10, paint a picture of a software incumbent that has figured out how to translate its AI investments into actual revenue growth.

The numbers behind the beat

Adobe’s $6.76 billion quarterly revenue represents 12% growth on a constant currency basis.

GAAP earnings per share came in at $4.62, while the non-GAAP figure hit $6.13. Cash flow from operations reached $2.52 billion for the quarter. On the operating income front, Adobe reported $2.35 billion under GAAP and $2.97 billion on a non-GAAP basis.

Adobe now claims over 1 billion monthly active users. Annualized recurring revenue reached $27.50 billion.

Raised guidance and what it signals

Adobe bumped its full-year FY2026 revenue guidance to a range of $26.576 billion to $26.626 billion. The company also lifted its non-GAAP EPS forecast to $24.45 to $24.50 for the full fiscal year.

Interim CFO Steve Day pointed to double-digit growth across the business and credited the company’s freemium strategy with expanding its user base.

A new CEO and the end of an era

Adobe announced that Anil Chakravarthy will become President and CEO effective December 1, 2026, while Shantanu Narayen moves to the role of Executive Chair. Narayen has led Adobe since 2007, a tenure that spans the company’s transformation from a boxed-software seller into a subscription business.

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