# Adobe Q3 earnings and leadership transition

> Live situation record from CLSTR: https://clstr.news/situations/adobe-fiscal-third-quarter-earnings-performance
> Updated: 2026-09-10T20:16:54.000Z. Sources: 16. Developments: 2.

Adobe’s fiscal third-quarter 2026 results exceeded analyst expectations, with revenue rising 13% to $6.76 billion and adjusted earnings per share of $6.13. The company reported reaching a milestone of 1 billion monthly active users, supported by a freemium strategy that has expanded its creative audience to over 100 million. Additionally, Adobe’s “AI-first” annual recurring revenue grew by more than 150% year-over-year.

Despite these figures, the company’s stock faced downward pressure following cautious fourth-quarter revenue guidance of $6.8 billion to $6.85 billion, which fell slightly below some analyst consensus estimates. Market sentiment remains cautious as investors weigh Adobe’s performance against rising competition from generative AI-native and open-source tools that may disrupt traditional subscription models.

Regarding leadership, Anil Chakravarthy is scheduled to succeed Shantanu Narayen as CEO, effective December 1. As part of its strategic pivot, Adobe is focusing on integrating AI across workflows, leveraging tools like Firefly to maintain its position in the creative and marketing sectors.

## Claims

- Adobe reported fiscal third-quarter revenue of $6.76 billion. (single source)
- Adjusted earnings per share for the third quarter were $6.13. (single source)
- Adobe issued fourth-quarter revenue guidance between $6.80 billion and $6.85 billion. (single source)
- Fourth-quarter adjusted earnings per share guidance is set between $6.30 and $6.35. (single source)
- Stifel analyst J. Parker Lane raised the company's price target to $225 from $200. (single source)
- Mizuho raised its price target for Adobe to $260 from $245. (single source)
- Citigroup increased its price target for Adobe to $301 from $228. (single source)

## Timeline

### 2026-09-10: Adobe reports strong Q3 earnings but issues cautious revenue guidance

Adobe beat Q3 estimates with $6.76 billion in revenue and 1 billion monthly active users, but shares slipped due to cautious Q4 guidance and rising AI competition.

13 sources. https://clstr.news/cluster/adobe-beats-q3-estimates-but-issues-cautious-revenue-guidance

### 2026-09-08: Adobe prepares for Q3 earnings report amid generative AI competition

Adobe reports fiscal Q3 2026 earnings on Sept. 10, with analysts projecting $6.09 EPS and $6.7B in revenue amid rising competition from generative AI tools.

4 sources. https://clstr.news/cluster/adobe-prepares-for-q3-2026-earnings-report-amid-rising-institutional-interest

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Cite as: Adobe Q3 earnings and leadership transition. CLSTR, https://clstr.news/situations/adobe-fiscal-third-quarter-earnings-performance