Overview

• Revenue reached $5.99 billion, non-GAAP EPS came in at $5.31, and free cash flow totaled about $2.13 billion, all ahead of consensus.
• Digital Media revenue growth accelerated to 12% while Digital Experience eased to 9%, with net new Digital Media ARR and RPO of $20.44 billion both topping expectations.
• Goldman Sachs said AI-first ARR has already surpassed Adobe’s $250 million F4Q25 target, and Seeking Alpha linked adoption to tools such as Creative Cloud Pro, Acrobat AI Assistant, and Firefly.
• Management’s outlook implies roughly 9% year-over-year revenue growth, and analysts cited a modest lift to fiscal 2025 Digital Media revenue growth guidance to 11%.
• Shares rose in after-hours trading by about 3% as firms reiterated views, including Goldman Sachs Buy at $570, J.P. Morgan Buy at $540, Stifel Buy at $480, and Citizens JMP Market Perform.