Adobe (NASDAQ: ADBE) reports fiscal third-quarter results after the market close on Thursday, September 10, 2026, in a report now carrying extra weight after a turbulent week for the stock.
According to Yahoo Finance, Wall Street expects revenue of roughly $6.7 billion and adjusted EPS of $6.09, up from $5.99 billion and $5.31 a year earlier — growth of about 12% on the top line and 15% on earnings.
Adobe’s own guidance called for revenue of $6.67–$6.72 billion and non-GAAP EPS of $6.05–$6.10, meaning consensus sits near the high end of management’s range, leaving little room for disappointment. For the full fiscal year, analysts model revenue of roughly $26.5–$26.6 billion and EPS near $17.90–$18.00.
Citi raised its price target to $301 from $228 ahead of the print (Neutral rating), calling the setup “achievable” given a roughly $500 million organic trim to FY26 total ARR guidance last quarter, which lowered the bar. Barclays lifted its target to $295 from $250 (Equal Weight), while RBC expects largely in-line results.
The dominant debate isn’t the headline beat, but AI monetization: Creative Cloud freemium MAUs topped 90 million in Q2 (+70% YoY), Firefly ARR approached $300 million, and AI-first ARR tripled to over $500 million against total ARR of $27.1 billion.
Investors want confirmation this usage converts into durable paid growth into FY27, not just a Q3 beat-and-raise.
Shares are down about 24% year-to-date and fell almost 7% on Friday after Adobe named insider Anil Chakravarthy as CEO (effective December 1), succeeding Shantanu Narayen — adding a leadership-transition overhang just days before earnings.
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