Adobe stock fell 1.49 percent on October 2 despite raised guidance

Published on 10/04/2026 at 17:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adobe stock closed at USD 237.69 on October 2 after fiscal Q3 revenue reached USD 6.76 billion. Adjusted EPS hit USD 6.13 and full-year guidance rose.

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Adobe stock (ISIN US00724F1012) closed at USD 237.69 on Nasdaq on October 2, down 1.49 percent from the prior close of USD 241.28. The latest market debate follows fiscal Q3 2026 results that lifted Adobe's full-year guidance, as Yahoo Finance reported on September 10, 2026.

Revenue beat the consensus

Adobe reported fiscal Q3 revenue of USD 6.76 billion, up 13 percent from the prior year and above the USD 6.69 billion analyst consensus, according to Yahoo Finance. The same report put adjusted earnings per share at USD 6.13, compared with a USD 6.08 consensus, while GAAP diluted EPS reached USD 4.62.

The operating picture also included USD 1.83 billion in net income and USD 2.52 billion in operating cash flow for the quarter. Adobe's total ending annual recurring revenue reached USD 27.50 billion, while AI-first ARR exceeded USD 650 million after growing more than 150 percent year over year, as Investing.com reported on September 10, 2026.

Guidance rose as AI expands

Adobe raised its fiscal 2026 revenue outlook to USD 26.576 billion to USD 26.626 billion and its adjusted EPS outlook to USD 24.45 to USD 24.50. The company also projected 10.2 percent growth in total ending ARR for the fiscal year, according to Yahoo Finance.

The next strategic test is monetization. Adobe said monthly active users across its businesses surpassed 1 billion, while the freemium expansion is intended to widen adoption before conversion into paid products. Investing.com reported that remaining performance obligations grew 8 percent year over year to USD 22.16 billion, slower than quarterly revenue growth.

Leadership will also change. Anil Chakravarthy is scheduled to become Adobe's president and CEO on December 1, 2026, succeeding Shantanu Narayen, according to Investing.com on September 10, 2026.

Consensus remains at Hold

MarketBeat lists a Hold consensus based on 33 analysts, including 7 Buy, 21 Hold and 5 Sell ratings. Its average price target is USD 282.68, which is 18.9 percent above the October 2 closing price; the published high and low targets are USD 440.00 and USD 190.00.

Adobe stock stays below its yearly high

Adobe stock closed at USD 237.69 on Nasdaq on October 2, with volume of 3,103,549 shares and a market capitalization of USD 94.5 billion. The 52-week range was USD 190.12 to USD 363.70, leaving the close USD 126.01 below the yearly high.