Adobe Inc. (ADBE) Earnings Call Transcripts
Adobe Inc.'s Latest Earnings Call - Q2 FY2026
In Q2 FY 2026, Adobe Inc. reported revenue of $6.62 billion, reflecting an 11% year-over-year growth, and GAAP earnings per share (EPS) of $4.25, up 8% YoY. The company raised its full-year revenue guidance to between $26.5 billion and $26.6 billion, driven by strong subscription growth in both Business Professionals and Consumers, and Creative and Marketing Professionals segments. Management signaled a strategic shift towards freemium offerings, which may impact short-term ARR but is expected to enhance long-term user engagement and customer acquisition.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $6.62 billion (beat) |
| GAAP EPS | $4.25 (beat) |
| Non-GAAP EPS | $5.96 (beat) |
| Total ARR | $27.1 billion (positive) |
| Creative and Marketing Professionals Revenue | $4.54 billion (positive) |
| Business Professionals and Consumers Revenue | $1.85 billion (beat) |
Guidance from management
Adobe raised its fiscal year revenue guidance to $26.5 billion to $26.6 billion and non-GAAP EPS guidance to $24.35 to $24.45, reflecting strong performance and the impact of the Semrush acquisition.
What management said
Sure, Michael. Let me take that. And I will first start off by saying the leadership team that exists in the financial organization is absolutely, absolutely seasoned and top notch. So I wish Dan well. It's clear that where he's going is where his background and expertise has been, but I'm confident that we won't miss a beat. I think as it relates to any other questions associated with the transition, I'm happy to an...
Maybe the last thing I'll say to that to just punctuate what David said is, not only are we seeing the MAU increase, but we're seeing the engagement increase then as a result of serving that first experience because they're looking for Adobe. So I think it's the satisfaction associated with completing their task that wants them to engage with Adobe more and those signals that give us confidence that now is the time.
What analysts pressed on
Analysts expressed concerns over the deferred optimizations for Creative Cloud and how this might impact ARR growth in the short term. There were also questions regarding the long-term economics of the freemium strategy and its effect on user monetization.
Main topics on the call
- Freemium Strategy Acceleration — Adobe is pivoting towards a freemium model to capture a larger user base, with MAU for Acrobat and Express increasing from 700 million to 850 million year-over-year. CEO Shantanu Narayen stated, "We believe this traffic ...
- Strong Revenue Growth — Adobe achieved $6.62 billion in revenue for Q2, with a 14% growth in total subscription revenue. Management noted that strong revenue growth was driven by subscription bookings to revenue conversion.
- AI-Driven Innovations — Adobe's AI-first applications have significantly boosted user engagement, with Firefly ARR growing approximately 50% quarter-over-quarter. The company reported that "AI is rewriting how the world creates and gets work do...
- Acquisition of Semrush — The acquisition of Semrush added $480 million in ARR and is expected to enhance Adobe's marketing solutions. Management highlighted that this integration will be showcased at the Cannes Lions Festival of Creativity.
Read the full Adobe Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Adobe Inc.
Adobe Inc. (ADBE) is a publicly listed company in the Software industry, within the Information Technology sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 65 calls on record spanning February 12, 2020 to June 11, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 65 Adobe Inc. earnings call transcripts on record, spanning February 12, 2020 to June 11, 2026. Based on this history, Adobe Inc. reports quarterly. The most recent call on file is dated June 11, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- ADBE
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Information Technology
- Industry
- Software
- Calls on record
- 65
- First call
- February 12, 2020
- Most recent
- June 11, 2026
- Reporting cadence
- quarterly