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Adobe (ADBE) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Sep 22, 2026
Adobe (ADBE) reported revenue of $6.8B for the third quarter fiscal 2026 (Q3 FY26), +13% from a year earlier and +2% from the quarter before. Operating margin was 34.8%, net earnings $1.8B (27.0% of revenue).
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.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.8B | +2% | +13% |
| Gross profit | $6.0B | +2% | +12% |
| Operating profit | $2.4B | +5% | +8% |
| Net earnings | $1.8B | +7% | +3% |
| Operating cash flow | $2.5B | +17% | +15% |
| Free cash flow | $2.4B | +16% | +15% |
What changed
Revenue was $6.8B in Q3 FY26, up 13% year over year and up 2% from the previous quarter. Subscription was the largest line at 97% of revenue. Subscription added $0.79B year over year (up 14%), 102% of the total change. Services and other declined 14%.
Gross margin was 88.7%, down 0.6 points from Q3 FY25. Operating profit was $2.4B, a 34.8% margin (down 1.5 points year over year). Of the extra revenue versus Q3 FY25, 23% reached operating profit, below the 36% margin then. Operating expenses grew 15% against revenue growth of 13%. The fastest-growing cost line was General & admin (+20%). Net earnings were $1.8B, up 3% year over year. The effective tax rate was 22.5%.
Operating cash flow was $2.5B (up 15% year over year), 138% of net earnings. Non-cash charges added back $0.21B of depreciation and amortization and $0.54B of share-based compensation. Capital expenditures of $0.09B left free cash flow of $2.4B.
Questions
What was Adobe's revenue in the third quarter fiscal 2026?
Adobe (ADBE) reported revenue of $6.8B for the third quarter fiscal 2026 (Q3 FY26), +13% from a year earlier and +2% from the quarter before.
Was Adobe profitable in the third quarter fiscal 2026?
Operating profit was $2.4B (34.8% of revenue) and net earnings $1.8B.
Source: Adobe 10-Q on SEC EDGAR.