Filing Flows › Adobe (ADBE) › Guidance history
Adobe (ADBE) guidance history: what it guided and what it reported
Adobe gave guidance in 12 earnings releases on file since Dec 13, 2023. Of 8 guided periods since reported, it met or beat its own guidance 7 times (88%). Revenue: 6 of 6, on average +1.4% against the guided midpoint. Its releases raised guidance 5 times and lowered it 0 times.
Revenue
Met or beat 6 of 6 periods (5 above, 1 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 FY26 | $6.8B–$6.8B (Sep 10, 2026) | — | to be reported | — |
| Q3 FY26 | $6.7B–$6.7B (Jun 11, 2026) | $6.8B | above the range | +1.0% |
| Q2 FY26 | $6.4B–$6.5B (Mar 12, 2026) | $6.6B | above the range | +2.5% |
| FY26 | $25.9B–$26.1B (Dec 10, 2025) → raised $26.5B–$26.6B (Jun 11, 2026) → reaffirmed $26.6B–$26.6B (Sep 10, 2026) | — | to be reported | — |
| FY25 | $23.3B–$23.6B (Dec 11, 2024) | $23.8B | above the range | +1.5% |
| Q2 FY25 | $5.8B–$5.8B (Mar 12, 2025) | $5.9B | above the range | +1.4% |
| Q4 FY24 | $5.5B–$5.5B (Sep 12, 2024) | $5.6B | above the range | +1.5% |
| FY24 | $21.3B–$21.5B (Dec 13, 2023) | $21.5B | within the range | +0.5% |
| Q3 FY24 | $5.3B–$5.4B (Jun 13, 2024) | — | — | — |
| Q2 FY24 | $5.2B–$5.3B (Mar 14, 2024) | — | — | — |
Adjusted operating margin
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 FY26 | 44.0% (Sep 10, 2026) | — | to be reported | — |
| Q3 FY26 | 44.0% (Jun 11, 2026) | — | — | — |
| Q2 FY26 | 44.5% (Mar 12, 2026) | — | — | — |
| Q1 FY26 | 47.0% (Dec 10, 2025) | — | — | — |
| FY26 | 45.0% (Dec 10, 2025) → reaffirmed 45.0% (Jun 11, 2026) → reaffirmed 45.0% (Sep 10, 2026) | — | to be reported | — |
| Q4 FY25 | 45.5% (Sep 11, 2025) | — | — | — |
| Q3 FY25 | 45.5% (Jun 12, 2025) | — | — | — |
| Q2 FY25 | 45.0% (Mar 12, 2025) | — | — | — |
| Q1 FY25 | 47.0% (Dec 11, 2024) | — | — | — |
| FY25 | 46.0% (Dec 11, 2024) → reaffirmed 46.0% (Mar 12, 2025) → reaffirmed 46.0% (Jun 12, 2025) → reaffirmed 46.0% (Sep 11, 2025) | — | — | — |
GAAP tax rate
Met or beat 1 of 2 periods (1 above, 0 within, 1 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 FY24 | 16.0% (Sep 12, 2024) | 15.5% | below the range | -0.5 pts |
| FY24 | 18.0% (Dec 13, 2023) | 19.8% | above the range | +1.8 pts |
| Q3 FY24 | 18.0% (Jun 13, 2024) | — | — | — |
| Q2 FY24 | 18.5% (Mar 14, 2024) | — | — | — |
Adjusted tax rate
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 FY26 | 22.0% (Sep 10, 2026) | — | to be reported | — |
| Q3 FY26 | 23.0% (Jun 11, 2026) | — | — | — |
| Q2 FY26 | 22.5% (Mar 12, 2026) | — | — | — |
| Q1 FY26 | 21.5% (Dec 10, 2025) | — | — | — |
| FY26 | 20.5% (Dec 10, 2025) → raised 22.5% (Jun 11, 2026) → reaffirmed 22.5% (Sep 10, 2026) | — | to be reported | — |
| Q4 FY25 | 18.5% (Sep 11, 2025) | — | — | — |
| Q3 FY25 | 18.5% (Jun 12, 2025) | — | — | — |
| Q2 FY25 | 18.5% (Mar 12, 2025) | — | — | — |
| Q1 FY25 | 18.5% (Dec 11, 2024) | — | — | — |
| FY25 | 18.5% (Dec 11, 2024) → reaffirmed 18.5% (Mar 12, 2025) → reaffirmed 18.5% (Jun 12, 2025) → reaffirmed 18.5% (Sep 11, 2025) | — | — | — |
GAAP EPS
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY26 | $17.90–$18.10 (Dec 10, 2025) | — | to be reported | — |
| Q2 FY25 | $3.80–$3.85 (Mar 12, 2025) | — | — | — |
| FY25 | $15.80–$16.10 (Dec 11, 2024) → lowered $4.00–$4.05 (Jun 12, 2025) → raised $4.27–$4.32 (Sep 11, 2025) | — | — | — |
EPS
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY26 | $2.00 (Sep 10, 2026) | — | to be reported | — |
| Q4 FY26 | $1.00 (Sep 10, 2026) | — | to be reported | — |
| Q2 FY26 | $1.00 (Mar 12, 2026) | — | — | — |
The latest quarter
Adobe, Q3 FY26: revenue $6.8B (+13% year over year), operating margin 34.8%, net earnings $1.8B, operating cash flow $2.5B. The chart follows the revenue to costs, profit and cash.
Questions
Does Adobe beat its guidance?
Adobe gave guidance in 12 earnings releases on file since Dec 13, 2023. Of 8 guided periods since reported, it met or beat its own guidance 7 times (88%). Revenue: 6 of 6, on average +1.4% against the guided midpoint.
How often does Adobe raise guidance?
Its earnings releases raised guidance 5 times and lowered it 0 times since Dec 13, 2023.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.