Adobe (ADBE) Q4 2025 Earnings
How Did ADBE Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: +0.17%.
Did ADBE Beat Earnings? Q4 2025 Results
Yes. Adobe reported Q4 2025 earnings of $5.50 a share on Dec 10, 2025, beating the $5.40 consensus estimate by 1.9%. Revenue was $6.2B against a $6.1B estimate.
Adobe closed out fiscal 2025 with a record-breaking quarter, posting Q4 revenue of $6.19 billion — up 10.5% year-over-year — and non-GAAP diluted EPS of $5.50 that ran well ahead of the $4.28 consensus estimate by 28.50%, a result that <a href="https://247wallst.com/investing/2025/12/03/retail-investors-price-in-91-chance-adobe-beats-estimates-on-december-10/">many investors had anticipated</a> heading into the print. The revenue beat of 1.29% above the $6.11 billion consensus was narrower but still meaningful, with Digital Media leading the charge at $4.62 billion in Q4 revenue as AI-driven tool adoption accelerated adoption across both creative professionals and the company's fast-growing business and consumer segment. CEO Shantanu Narayen credited Adobe's deepening role in the global AI ecosystem as a central catalyst, and the numbers bore that out — Total Adobe ARR reached $25.20 billion at year-end, growing 11.5% year-over-year. Looking ahead, Adobe guided FY2026 revenue to $25.90–$26.10 billion with non-GAAP EPS of $23.30–$23.50, reflecting continued confidence in its AI monetization trajectory even as shares faced some pressure in late December trading.
- Strong global demand for AI solutions across customer groups
- 10% YoY revenue growth as reported and in constant currency in Q4
- Record operating cash flows of over $10 billion in FY2025
- Digital Media ARR exiting year was $19.20 billion, 11.5% YoY growth
- Total Adobe ARR exiting year was $25.20 billion, 11.5% YoY growth
- Business Professionals & Consumers subscription revenue grew 15% YoY in Q4
“Adobe's record FY2025 results reflect our growing importance in the global AI ecosystem and the rapid adoption of our AI-driven tools. By advancing our innovative generative and agentic platforms and expanding our customer base, we are excited to target double-digit ARR growth in FY2026.”
Adobe CEO, on the earnings call
What Was Adobe's Outlook in Q4 2025?
For FY2026, Adobe targets total revenue of $25.90 billion to $26.10 billion, non-GAAP EPS of $23.30 to $23.50, GAAP EPS of $17.90 to $18.10, and Total Adobe ending ARR growth of 10.2% year-over-year. For Q1 FY2026, Adobe targets total revenue of $6.25 billion to $6.30 billion, non-GAAP EPS of $5.85 to $5.90, and GAAP EPS of $4.55 to $4.60. FY2026 targets assume non-GAAP operating margin of ~45.0%, GAAP tax rate of ~20.5%, non-GAAP tax rate of ~18.0%, and diluted share count of ~403 million. These targets do not include any contributions from the pending Semrush Holdings acquisition.
ADBE YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $6.2B | $5.6B | +10.5% |
| Gross Profit | $5.5B | $5.0B | +11.1% |
| Operating Income | $2.3B | $2.0B | +15.5% |
| Net Income | $1.9B | $1.7B | +10.3% |
ADBE Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.