Adobe · Q3 FY2026 · quarter ended Aug 28, 2026
Subscriptions grow; AI needs context.
Adobe’s revenue grew 13%; adjusted EPS of US$6.13 exceeds GAAP EPS of US$4.62.
- Evidence included through
- Sample publication
A reading of public documents with a defined cutoff. Figures belong to the stated period; the sample’s publication date does not update the company’s results.
The figures, in context
- Revenue
- US$6.76B
6.76 billion · +13% reported; +12% in constant currency.
Adobe · Q3 FY2026 results and GAAP reconciliation - Earnings per share
- US$4.62
GAAP diluted EPS; US$6.13 on Adobe’s non-GAAP measure.
Adobe · Q3 FY2026 results and GAAP reconciliation - Total ARR
- US$27.50B
27.50 billion · +11.2% year over year; annual subscription value, not quarterly revenue.
Adobe · 10-Q for the quarter ended Aug 28, 2026
Editorial interpretation
Why it matters
Editorial interpretation: recurring business adds visibility, but total ARR includes Semrush and does not isolate AI’s contribution.
The open question
What could change this reading
Free-user growth must convert into profitable revenue; watch competition and acquisition and integration costs.
Open the original documents
Continue with the same company
How much of Adobe’s growth comes from subscriptions, acquisitions, and AI monetization?
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