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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Alex Zukin | Wolfe Research | 11 (9%) |
| Keith Weiss | Morgan Stanley | 8 (13%) |
| Michael Turrin | Wells Fargo | 6 (0%) |
| Saket Kalia | Barclays | 5 (0%) |
| Mark Murphy | JPMorgan | 5 (0%) |
| Brent Thill | Jefferies | 5 (20%) |
| Brad Zelnick | Deutsche Bank | 4 (0%) |
| Kirk Materne | Evercore ISI | 4 (0%) |
| Mark Moerdler | Bernstein | 3 (0%) |
| Kash Rangan | Goldman Sachs | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Wolfe Research | 1 | 11 (9%) |
| Morgan Stanley | 1 | 8 (13%) |
| Jefferies | 2 | 7 (14%) |
| Wells Fargo | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $5.61B | +11.1% | $3.80 | +17.6% | 89.0% | 34.9% | 30.0% | $2.87B |
| FY2025 Q1 | $5.71B | +10.3% | $4.13 | +203.7% | 89.1% | 37.9% | 31.7% | $2.46B |
| FY2025 Q2 | $5.87B | +10.6% | $3.95 |
| 6 (0%) |
| Barclays | 1 | 5 (0%) |
| JPMorgan | 1 | 5 (0%) |
| Deutsche Bank | 1 | 4 (0%) |
| Evercore ISI | 1 | 4 (0%) |
| +13.2% |
| 89.1% |
| 35.9% |
| 28.8% |
| $2.14B |
| FY2025 Q3 | $5.99B | +10.7% | $4.18 | +11.2% | 89.3% | 36.3% | 29.6% | $2.13B |
| FY2025 Q4 | $6.19B | +10.5% | $4.45 | +17.1% | 88.9% | 36.5% | 30.0% | $3.13B |
| FY2026 Q1 | $6.40B | +12.0% | $4.60 | +11.4% | 89.1% | 37.8% | 29.5% | $2.92B |
| FY2026 Q2 | $6.62B | +12.7% | $4.25 | +7.6% | 89.2% | 33.8% | 25.9% | $2.45B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Adobe grew revenue 12% year-over-year to $6.40 billion with non-GAAP EPS of $6.06 surging 19% as the creative freemium MAU base crossed 80 million growing 50% and AI-first application ARR more than tripled year-over-year. Generative credit consumption rose 45% quarter-over-quarter, indicating deepening AI adoption across the creative and enterprise user base. Management reaffirmed FY2026 targets with total Adobe ARR growing 10.9% to $26.06 billion.
Cloud & AI | Revenue Growth | Competitive Dynamics | Subscriber Growth | Pricing | Innovation & R&D | Demand | Guidance Reliability | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 4 | 2 | 5 | 4 | 1 | 1 | 1 |
| 2025Q1 | 6 | 5 | 2 | 1 | 2 | 2 | ||
| 2025Q2 | 4 | 4 | 4 | 1 | 3 | 1 | 1 | |
| 2025Q3 | 11 | 4 | 2 | 1 | 1 | 3 | 1 | |
| 2025Q4 | 5 | 3 | 2 | 1 | 2 | 2 | 1 | |
| 2026Q1 | 3 | 6 | 3 | 2 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Cloud & AI | 4 | 6 | 4 | 11 | 5 | 3 |
| Revenue Growth | 4 | 5 | 4 | 4 | 3 | 6 |
| Competitive Dynamics | 2 | 2 | 4 | 2 | 2 | 3 |
| Subscriber Growth | 5 | 1 | 1 | 1 | 1 | 2 |
| Pricing | 4 | 3 | 1 | 2 | ||
| Innovation & R&D | 1 | 2 | 1 | 3 | ||
| Demand | 1 | 2 | 1 | 2 | 1 | |
| Guidance Reliability | 1 | 1 | 1 | 1 |
What ADBE and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“through deeper integrations with partners like Adobe and Amazon.”
Omnicom names Adobe as a technology partner integrated into its Omni AI marketing platform.
“We expect our pending acquisition of Semrush will expand our offering to provide marketers with a comprehensive solution”
Adobe's pending acquisition of Semrush is expected to expand its brand-visibility/marketing offering across LLMs, search and the wider web.
“a broad ecosystem of advertising platforms, including Amazon Ads, Google, LinkedIn and Meta”
Adobe integrates GenStudio activation workflows with Meta's advertising platform, a read-through to Meta as an ad-distribution partner for Adobe content.
“a broad ecosystem of advertising platforms, including Amazon Ads, Google, LinkedIn and Meta”
Adobe GenStudio-created assets flow into Amazon Ads among other ad platforms, integrating Adobe's content supply chain with Amazon's advertising business.
“if you look at the larger companies like Google, we're actually with them and with Nano Banana, it's been a great partnership because we are providing them with a lot of customers and they're providing us with great technology”
Adobe describes a strong partnership with Google around the Nano Banana model, exchanging Adobe's customer reach for Google's generative AI technology.
“we intend to integrate with leading AI platforms such as Anthropic, Google, Microsoft, NVIDIA and OpenAI, providing customers with access, choice and flexibility”
Adobe names NVIDIA among the leading AI platforms it intends to integrate with as part of its multi-platform AI strategy.
“we intend to integrate with leading AI platforms such as Anthropic, Google, Microsoft, NVIDIA and OpenAI, providing customers with access, choice and flexibility”
Adobe intends to integrate with Microsoft's AI platform (e.g., Copilot), extending Adobe's reach across Microsoft's ecosystem.
“we intend to integrate with leading AI platforms such as Anthropic, Google, Microsoft, NVIDIA and OpenAI, providing customers with access, choice and flexibility”
Adobe intends to integrate its applications with Google's AI platform, positioning Google as a distribution surface for Adobe creativity/productivity workflows.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
ADBE Adobe Inc. | 7 | +12.0% | |
| AKAM Akamai Technologies | 6 | +5.8% | |
| CPAY Corpay | 8 | +25.4% | |
| CRWD CrowdStrike | 9 | +23.3% | |
| CRWV CoreWeave, Inc. Class A Common Stock | 8 | +111.7% | |
| FFIV F5, Inc. | 8 | +11.0% | |
| FTNT Fortinet | 10 | +20.1% | |
| GDDY GoDaddy | 7 | +6.1% | |
| GEN Gen Digital | 6 | +27.0% | |
| MSFT Microsoft Corporation | 9 | +18.3% | |
| NET Cloudflare, Inc. | 10 | +33.5% | |
| ORCL Oracle Corporation | 9 | +21.7% | |
| PANW Palo Alto Networks | 6 | +14.9% | |
| PLTR Palantir Technologies | 10 | +84.7% | |
| SNPS Synopsys | 7 | +65.5% | |
| VRSN Verisign | 7 | +6.6% | |
| XYZ Block, Inc. | 8 | +4.9% | |
| ZS Zscaler | 9 | +25.9% |