Adobe Q3 FY2026: revenue up 13% to $6.76B and FY2026 targets raised, but Q4 revenue guide midpoint lands below consensus

Adobe reported record fiscal third-quarter revenue of $6.76 billion, up 13% year over year, with non-GAAP EPS of $6.13. Q4 revenue guidance of $6.80–$6.85 billion had a midpoint just under the roughly $6.85 billion analysts expected, and the stock fell more than 4% afterward. Adobe raised its full-year FY2026 targets, and ending ARR reached $27.50 billion.

• Q3 revenue $6.76B (+13% y/y); GAAP EPS $4.62; non-GAAP EPS $6.13
• Q4 guide: revenue $6.80–$6.85B; non-GAAP EPS $6.30–$6.35
• FY2026 guide: revenue $26.576–$26.626B; non-GAAP EPS $24.45–$24.50; GAAP EPS $18.12–$18.17
• Ending ARR $27.50B; AI-first ARR grew more than 150% y/y
• Stock fell more than 4% after the report