Adobe Inc. (ADBE) reported its first-quarter fiscal 2026 results on February 27, 2026, posting non-GAAP earnings of $6.06 per share, surpassing estimates by 3.06% and marking a 19.3% increase year-over-year. Total revenues reached $6.398 billion, exceeding expectations by 1.86% and up 12% year-over-year, while annualized recurring revenues (ARR) stood at $26.06 billion.
Adobe’s subscription revenues constituted 96.9% of total revenues at $6.198 billion, reflecting a 13% year-over-year growth. Operating expenses grew 13.2% to $3.32 billion, with an adjusted operating margin of 47.4%. As of the quarter’s end, cash and short-term investments totaled $6.89 billion, and long-term debt was $5.38 billion.
Looking ahead, Adobe forecasts Q2 fiscal 2026 revenues between $6.43 billion and $6.48 billion and expects non-GAAP earnings per share to range from $5.85 to $5.90. For the full fiscal year, projected revenues are between $25.9 billion and $26.1 billion, with expected non-GAAP earnings between $23.30 and $23.50 per share.
