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Adobe ADBE Q3 2025 earnings

Reported September 11, 2025 · After market close

Revenue$6.0BBeat by $70.0M
EPS$5.31Beat by $0.13
Revenue estimate$5.9B
EPS estimate$5.18

Next report

Dec 9, 2026 (in 3 months)
Revenue estimate$6.8B
EPS estimate$6.30

Financials

Q3 2025

Income statement

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Revenue$6.0B+10.7%
Gross profit$5.3B+10.1%
Operating income$2.2B+9.1%
Net income$1.8B+5.2%
EPS (diluted)$4.18+11.2%

Balance sheet

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Cash & equivalents$5.0B-30.7%
Total debt$6.6B+9.2%
Total equity$11.8B-19.1%
Total assets$28.8B-3.6%

Cash flow

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Operating cash flow$2.2B+8.8%
CapEx$72.0M+26.3%
Free cash flow$2.1B+8.2%

Valuation & ratios

Valuation

as of 08/29/25
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Market cap$151.31B-40.6%
Enterprise value$152.97B-39.7%
P/E21.7×-25.8×
P/S6.5×-5.6×

Profitability

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Gross margin89.1%+0.5pp
Operating margin36.2%+5.1pp
Net margin30%+4.4pp
FCF margin41.4%+10.1pp

Returns & leverage

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Return on equity52.9%+17.5pp
Debt / equity0.6×+0.1×
Current ratio1×-0.1×

Segments

By geography

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Americas$3.6B+9.7%
EMEA$1.6B+12.9%

By product

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Subscription$5.8B+11.8%
Services and other$129.0M-11.6%

FAQ

When did Adobe report Q3 2025 earnings?
Adobe (ADBE) reported Q3 2025 earnings on September 11, 2025 after market close.
What were Adobe's Q3 2025 revenue and EPS?
Adobe reported revenue of $6.0B and eps of $5.31 for Q3 2025.
Did Adobe beat estimates in Q3 2025?
Revenue beat the consensus estimate of $5.9B by $70.0M. EPS beat the consensus estimate of $5.18 by $0.13.
How did Adobe's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 10.7% from $5.4B a year earlier and eps grew 14.2% from $4.65.
Where can I find Adobe's Q3 2025 SEC filings?
You can read the 8-K earnings release (0000796343-25-000102) and the 10-Q periodic report (0000796343-25-000107) directly on SEC EDGAR. The filing index links above go to sec.gov.