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Adobe Inc. (ADBE) earnings date & stock reaction

Adobe Inc. · IT

Adobe Inc. earnings date & time

Next earningsWed, December 9 around 4:00 PM ET, after the closescheduled

Schedule

Korea time (KST)
Thu, December 10
Reporting pattern
12 of last 12 after close
Typical move
±7.8% · 12-report avg

What the market expects

Consensus EPS

$6.33Coming in above this counts as a beat

Year-ago quarter
$5.50→+15.1%
Guided revenue
$6.8B→$6.8B+1.0%
Guided EPS
$6.13→$4.68-23.7%
Full earnings calendarFrom an earnings calendar
Latest reportJun–Aug 2026 results· September 10, 2026 reported
EPS consensus $6.09 → $6.13 ▲ +0.7% beatRev $6.8B
Post-earnings price move
Next-day move
+1.4%
After 5 days
+1.5%
Price around earnings
Around this report
Overlapped CPI releaseA major data release (CPI, jobs) came out around this report. On those days the whole market moves, so the reaction may be mixed with the data.Sector peer Snowflake Inc. +16.6% next day (9/2)A same-industry peer, Snowflake Inc., reported within the 10 days before this one (8d earlier). How the market took it (next-day move +16.6%) is the best read on the sector mood. A beat that still fell means the bar was high, so this stock may face similar pressure.Down 7% into earningsIn the 3 trading days before this report, the stock moved more than usual. A pre-earnings run-up can mean expectations were already priced in, a drop can mean bad news was priced in early. Read the post-earnings reaction with that in mind.
Earnings callRevenue growth driven by AI product innovation and expanded user base
“Adobe delivered double-digit revenue and EPS growth in Q3 and we're raising full year revenue and EPS targets.”
· Steve Day, Interim CFO
“AI-first ending ARR now exceeding $650 million and growing more than 150% year-over-year.”
· Shantanu Narayen, CEO
Positives
  • ▲Strong growth in AI-driven product revenue
    • AI-first ARR surpassed $650 million this quarter, growing over 150% vs last year.
    • Subscription revenue for Creative and Marketing segments reached $4.65 billion, up 13% vs last year.
  • ▲Expansion of user base and active users
    • Total monthly active users (MAU) exceeded 1 billion, with creative freemium MAU topping 100 million, up over 70% vs last year.
    • MAU for Business Professionals and Consumers exceeded 900 million, growing over 25% vs last year.
  • ▲Upward revision of annual financial targets
    • Based on strong year-to-date performance, the company raised its full-year revenue and EPS targets.
    • The non-GAAP EPS target for the full year was set at $24.45–$24.50, signaling improved profitability.
Concerns
  • ▼RPO growth lagging behind revenue growth
    • Ending Remaining Performance Obligations (RPO) were $22.16 billion, growing 8% vs last year, which is lower than the 13% revenue growth.
    • Current RPO growth also stood at 9%, suggesting a potential slowdown in future revenue momentum.
  • ▼Decelerating annual ARR growth guidance
    • The company provided an annual total ARR growth guidance of 10.2%, which is lower than the current revenue growth rate of 13%.
Based on the Sep 10, 2026 earnings-call transcript. Quotes are verbatim.

Adobe Inc. (ADBE) rose the day after earnings in 3 of its last 12 reports (25%), moving ±7.8% on average. It has fallen despite beating the consensus estimate 9 times.

Up next day
3/12
25%
Fell despite growth
9/12
Good earnings ignored
Price when beating
-4.8%
avg over 12 beats
Price when missing
—
never missed
Avg earnings move
±7.8%
typical swing on earnings
Biggest single move
+14.5%
'24.6 · largest reaction
🔑What actually moves this stock?

Even when EPS beat expectations, the stock fell 9 of the last 12 times. The number alone doesn't move it.

What really matters here
Digital Media ARR and AI-feature adoption
In finance terms: ARR · AI adoption
Growth · revenue (YoY by quarter, latest right)
+10%
25-03(Feb qtr)
+11%
25-06(May qtr)
+11%
25-09(Aug qtr)
+10%
25-12(Nov qtr)
+12%
26-03(Feb qtr)
+13%
26-06(May qtr)
Holding steady · Growth is holding around +13%.
Adobe is a high-multiple software name with a high bar, so an EPS beat alone rarely lifts it (it often falls even on beats). The market questions whether subscriptions keep growing in the AI era, so it watches net-new recurring revenue (ARR) and whether guidance beats. Any small disappointment there triggers selling.
What to watch next report

When results drop, skip the EPS number. Check if the growth above holds or accelerates, and whether guidance beats expectations.

The real bar for this stock

Beating estimates isn't enough. Here's where the real surprise started.

Beat consensus 12 of 12 times. Beating is the default here
Median beat +2.5%. 9 of those beats still fell the next day.
Bigger beats didn't mean bigger gains
Surprise size and price moved separately here. Expectations, not beats, drive this stock.

How this stock reacts to earnings

Traits seen across its recent earnings reactions

Even strong results barely move the stock
Up the next day 3 of 12 beats (25%)
Tends to keep drifting the same way for days
Day-one direction continued · 67% of last 12
vs IT sector avg (192 peers)
This
-4.8%
Sector
+1.0%
Avg next-day reaction

Earnings number vs guidance: which drives it?

How often the beat/miss matched the actual price move

This stock reacts more to guidance & expectations than the reported number
Moved opposite to results 9 of last 12 times (75%)
9xBeat but fell
Even a beat sells off if guidance disappoints
0xMissed but rose
Even a miss rebounds if guidance reassures
Fell despite growth9/12

9/12 beats fell next day · watches ARR · AI adoption

Next-day reaction
  • Aug 2026 report+1.4%
  • May 2026 report-6.8%
  • Feb 2026 report-7.6%
  • Nov 2025 report+2.1%
  • Aug 2025 report-0.3%
  • May 2025 report-5.3%

Earnings timeline · bars = next-day move, ▲▼ = beat/miss

Jun–Aug 2026 results
Reported 2026-09-10
Next-day move
+1.4%
After 5 days +1.5%
EPS consensus $6.09 → $6.13 ▲ +0.7% beatRev $6.8B
Next-Q guidance+1%· ~$6.8B est.
Price around earnings
Around this report
Overlapped CPI releaseA major data release (CPI, jobs) came out around this report. On those days the whole market moves, so the reaction may be mixed with the data.Sector peer Snowflake Inc. +16.6% next day (9/2)A same-industry peer, Snowflake Inc., reported within the 10 days before this one (8d earlier). How the market took it (next-day move +16.6%) is the best read on the sector mood. A beat that still fell means the bar was high, so this stock may face similar pressure.Down 7% into earningsIn the 3 trading days before this report, the stock moved more than usual. A pre-earnings run-up can mean expectations were already priced in, a drop can mean bad news was priced in early. Read the post-earnings reaction with that in mind.

Earnings trend · last 12 quarters

EPS$6.13YoY +15%
'23.12'26.9
Revenue$6.8B
'23.12'26.9

Earnings history and price reaction

Adobe Inc. across its last 12 earnings reports: EPS versus consensus, the move on the earnings day, and the cumulative move five trading days later.
Quarter endedReported (ET)vs market expectation (consensus)Earnings dayAfter 5 days
8/20262026-09-10+0.7%+1.4%+1.5%
5/20262026-06-11+2.5%-6.8%-10.8%
2/20262026-03-12+3.2%-7.6%-8.8%
11/20252025-12-10+1.9%+2.1%+3.4%
8/20252025-09-11+2.5%-0.3%+4.8%
5/20252025-06-12+1.7%-5.3%-8.9%

12 reports, quarters ending 12/2023 to 8/2026. The earnings-day move is the first trading day that reflects the report; the five-day figure is the cumulative move from that point.

Frequently asked questions

When is the next Adobe Inc. earnings date?

The next Adobe Inc. (ADBE) earnings report is expected Wed, December 9 around 4:00 PM ET, after the close. It comes from an earnings calendar and may not be a company-confirmed date; it updates automatically if it changes.

What is the consensus EPS forecast for Adobe Inc.'s next earnings?

Analysts expect EPS of about $6.33 for Adobe Inc. (ADBE). Coming in above that counts as a beat, below it a miss — though a beat does not guarantee the stock rises.

Does Adobe Inc. (ADBE) stock usually go up after earnings?

Over the last 12 earnings reports, the stock rose on 3 of them (25%). The average move on earnings day was ±7.8%.

Does Adobe Inc. react more to the earnings numbers or to guidance?

In 9 of the last 12 reports (75%), the stock moved the opposite way from whether it beat or missed the forecast. A high share means guidance and expectations drive the move more than the reported numbers.

Can Adobe Inc. stock fall even when earnings are good?

Yes. In 9 of the last 12 reports, Adobe Inc. fell on the earnings day despite growing EPS. Expectations already priced in, or guidance, can matter more than the reported numbers.

Does Adobe Inc. stock keep moving after the earnings day?

Over the last 12 reports, the move continued in the same direction for the following five trading days 67% of the time. This tendency is known as post-earnings announcement drift.