trade.var.gg / Earnings
ADBE · FY2026-Q1 · Mar 12, 2026 release

ADBE FY2026-Q1 earnings: Shares fell as next-quarter revenue guidance weighed on the readout.

First regular close-7.58%down

Shares fell 7.58% at the first regular close. Revenue was $6.398B and Non-GAAP EPS was $6.06, while Q2 revenue guidance was $6.43B-$6.48B.

Official factsNegative reactionOfficial release

Key takeaways

  • Shares fell 7.58% at the first regular close, with Q2 revenue guidance interpreted as the main pressure point in the reaction.
  • FY2026 Q1 total revenue was $6.398B, and subscription revenue was $6.198B.
  • Non-GAAP EPS was $6.06, while GAAP diluted EPS was $4.60.
  • Total Adobe ARR was $26.06B at quarter-end, and RPO was $22.22B.
Stock reaction
-7.58%
First regular close
Revenue
$6.4B
FY2026-Q1
Non-GAAP EPS
$6.06
FY2026-Q1
RPO
$22.22B
Growth / demand

Why did the stock fall?

Shares fell 7.58% at the first regular close after the report. The baseline price was $269.78, and the reaction price was $249.32. FY2026 Q1 total revenue was $6.398B, and subscription revenue was $6.198B. Non-GAAP EPS was $6.06, while GAAP diluted EPS was $4.60. Within subscription revenue, Customer Group subscription revenue was $6.17B, and Creative & Marketing Professionals subscription revenue was $4.39B. Business Professionals & Consumers subscription revenue was $1.78B. Total Adobe ARR was $26.06B at quarter-end, and RPO was $22.22B. Operating cash flow was $2.958B. The company provided FY2026 Q2 revenue guidance of $6.43B to $6.48B. As an interpretation, the share-price decline suggests investors focused more on the next-quarter revenue outlook and valuation read-through than on the reported Q1 figures alone.

Demand signals

RPO
Future contracted demand
$22.22B

What pressured the stock

Stock reaction
First regular close
-7.58%

This interpretation links official reported numbers with first regular close reaction. Consensus-relative beat/miss wording is not included yet.

Reported numbers

Actual reported numbers from official or allowed sources. Consensus-relative judgments are excluded.

MetricPeriodValue
RevenueFY2026 Q1$6.4B
Subscription revenueFY2026 Q1$6.2B
Customer group subscription revenueFY2026 Q1$6.17B
Creative and marketing subscription revenueFY2026 Q1$4.39B
Business professionals and consumers subscription revenueFY2026 Q1$1.78B
GAAP EPSFY2026 Q1$4.60
Non-GAAP EPSFY2026 Q1$6.06
Adobe ARRFY2026 Q1 exit$26.06B
RPOFY2026 Q1 exit$22.22B
Operating cash flowFY2026 Q1$2.96B
Q2 revenue guidance lowFY2026 Q2 guidance$6.43B
Q2 revenue guidance highFY2026 Q2 guidance$6.48B

Market reaction data

Calculated from the first regular-session close after the release.

Change
-7.58%
Baseline$269.78
Reaction$249.32
Session2026-03-13
BasisFirst regular close

Analysis evidence

Evidence linking the narrative to official numbers and price data. Expand if you want the detail.

Show 10 evidence items

At the first regular close after the report, the stock fell 7.58%.

Market reaction
ObservedMarket reaction
Market data: Context reaction row shows price_change_pct of -7.583957 at the first regular close.

FY2026 Q1 total revenue was $6.398B.

Demand
Observed
Reported number: Reported numbers table lists total_revenue for FY2026 Q1 as $6.398B.

FY2026 Q1 subscription revenue was $6.198B.

Demand
Observed
Reported number: Reported numbers table lists subscription_revenue for FY2026 Q1 as $6.198B.

FY2026 Q1 Non-GAAP EPS was $6.06.

other
Observed
Reported number: Reported numbers table lists non_gaap_eps for FY2026 Q1 as $6.06.

FY2026 Q1 GAAP diluted EPS was $4.60.

other
Observed
Reported number: Reported numbers table lists gaap_diluted_eps for FY2026 Q1 as $4.60.

Total Adobe ARR was $26.06B at the end of FY2026 Q1.

Demand
Observed
Reported number: Reported numbers table lists total_adobe_arr for FY2026 Q1 exit as $26.06B.

RPO was $22.22B at the end of FY2026 Q1.

Demand
Observed
Reported number: Reported numbers table lists rpo for FY2026 Q1 exit as $22.22B.

FY2026 Q1 operating cash flow was $2.958B.

other
Observed
Reported number: Reported numbers table lists operating_cash_flow for FY2026 Q1 as $2.958B.

FY2026 Q2 revenue guidance was $6.43B to $6.48B.

Guidance
ObservedCompany guidance
Reported number: Reported numbers table lists q2_revenue_guidance_low as $6.43B and q2_revenue_guidance_high as $6.48B for FY2026 Q2 guidance.

As an interpretation, the stock decline suggests Q2 revenue guidance weighed on investor reaction.

Guidance
InterpretationMarket reaction
Market data: First regular close reaction row shows a -7.583957% stock move.
Reported number: Reported numbers table provides FY2026 Q2 revenue guidance of $6.43B to $6.48B.

Sources

Public sources used for the page.

Adobe Delivers Record Q1 Results
FilingMar 12, 2026
Adobe Delivers Record Q1 Results
Official releaseMar 12, 2026

Verification scope

Reported facts
Official reported facts are displayed.

Market reaction
Based on the first regular close after release.

Narrative scope
Narrative links official facts with market reaction.