Adobe Inc

ADBE: XNAS (USA)

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Adobe Earnings: Good, but More Freemium Users Mean Less Near-Term ARR

Dan Romanoff

Jun 12, 2026

Adobe's second-quarter revenue grew by 12.7% year over year as reported to $6.62 billion, while non-GAAP operating margin was 44.5%. Revenue was better than expected, while non-GAAP operating margin was in line with guidance. The annual outlook was generally increased, with some offsets.

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Adobe Inc

Adobe Earnings: Good, but More Freemium Users Mean Less Near-Term ARR

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