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ADBE · Q2 2026

ADOBE INC.

Reported 2026-06-11
BEAT
44EarnIQ signal
↗

Confidence rising

Mild quarter-over-quarter shift

Strong AI monetization driving record revenue and upward revisions to full-year guidance.

  • ✓Guidance was raised, with high specificity.
  • ✓Management tone registered as confident (90/100).
  • ✓EarnIQ detected 0 potential management deflections.
Headline–confidence gap

Headline confirmed

Management confidence reinforces the reported beat.

EPS: reported vs expected—— vs —
Revenue: reported vs expected—— vs —
Guidance specificityHighRaised
Market expectations are being matched to this report.

Adobe delivered record revenue of $6.62 billion in Q2 reflecting strong AI-driven demand across our customer groups and we are raising our full-year fiscal 2026 revenue and non-GAAP EPS targets.

Premium intelligence

The evidence behind the signal

Full report
Management language

Why confidence moved

“Adobe delivered record revenue of $6.62 billion in Q2 reflecting strong AI-driven demand across our customer groups and we are raising our full-year fiscal 2026 revenue and non-GAAP EPS targets on the strength of that performance”
“We are inspired to bring the magic of our new AI products to consumers, business professionals, creators, and marketers to deliver on our mission to Empower Everyone to Create”
“AI-first ARR triples year over year and exceeds $500 million”
Guidance specificity
90/100

High specificity

Adobe raised its full-year fiscal 2026 revenue target to $26.50 billion to $26.60 billion and non-GAAP EPS target to $24.35 to $24.45.

Pressure point
!

Potential disruptions or integration challenges

0 potential deflections detected in management communication.

Narrative break

What changed

Semrush acquisition integration and rapidly accelerating AI-first ARR exceeding $500 million.

Q&A evidence

Management responses

No material Q&A deflections were detected.

Key positives
  • Record Q2 revenue of $6.62 billion representing 13% year-over-year growth.
  • AI-first ARR tripled year over year and exceeded $500 million.
  • Raised full-year fiscal 2026 revenue and non-GAAP EPS targets.
Key risks
  • Potential disruptions or integration challenges associated with the acquisition of Semrush Holdings, Inc.
  • Goodwill impairment charge of $0.17 per share related to the Publishing & Advertising reporting unit.
  • Macroeconomic and geopolitical conditions impacting international operations and currency exchange rates.
Topic velocity

Language versus prior quarter

M&ANew
CostNew
ChinaNew
MarginNew
RecordNew
iPhoneNew
Signal composition

What drove the EarnIQ score

Tone+20
Eps Beat+0
Guidance+15
New Signal+8
Miss Penalty+0
Qoq Improvement+8
Deflection Penalty+0