Adobe Inc. Q3 2026 Earnings Recap

Adobe’s shares fell 1.0% after earnings, signaling a broadly neutral investor response despite solid reported growth and accelerating AI-related metrics. The quarter included a CEO transition and continued execution across subscriptions, but the transcript does not provide enough outlook detail to identify a specific earnings disappointment.

Key Takeaways

• Q3 revenue was $6.76 billion, up 12% year over year; GAAP EPS increased 11% to $4.62, while non-GAAP EPS rose 15% to $6.13.
• Business professional and consumer subscription revenue reached $1.91 billion, growing 15% year over year.
• Adobe reported more than 1 billion monthly active users across its businesses, up over 20% year over year; Creative Premium MAUs surpassed 100 million, growing over 70%.
• AI-first ending ARR exceeded $650 million and grew more than 150% year over year.
• Shantanu Narayen will become executive chair, with Anil Chakravarthy assuming the CEO role and joining the board effective December 1.