For more information on those risks, please review today's earnings release and Adobe's SEC filings. Our reported results include GAAP growth rates and non-GAAP growth rates, including constant currency rates. During this presentation, Adobe's executives will refer to constant currency growth rates unless otherwise stated. Non-GAAP reconciliations are available in our earnings release and on Adobe's Investor Relations website.
Adobe had another strong quarter and delivered double-digit top-line growth and profitability. In Q3, we achieved record revenue of $5.99 billion, representing 10% year-over-year growth. GAAP earnings per share for the quarter was $4.18, and non-GAAP earnings per share was $531, representing 14% year-over-year growth. We're infusing AI into Adobe Experience Manager with our upcoming LLM Optimizer release, a powerful agentic app to improve brand visibility, drive acquisition, and maintain engagement with customers across LLM platforms.
We're seeing steady growth across our family of Acrobat and Express products, with combined monthly active users growing approximately 25% year-over-year. Our AI-influenced ARR has now surpassed $5 billion, up from over $3.5 billion exiting fiscal year 2024, and we've already surpassed our full-year AI-first ending ARR target. Given our customer-focused growth strategy, product innovation, strong go-to-market execution, and the momentum in our business, we're pleased to once again raise our FY25 revenue and EPS targets. In Q3, Digital Media achieved revenue of $4.46 billion, which grew 11% year-over-year.
| Metric | Period | Current guidance |
|---|---|---|
| Total Adobe revenue | FY2025 | $23.65 billion to $23.70 billion (raised on business momentum) |
| Non-GAAP EPS | FY2025 | $20.80 to $20.85 (raised) |
| Digital Media ending ARR book of business growth | FY2025 | 11.3% year-over-year (raised on momentum) |
| Total Adobe revenue | Q4 FY2025 | $6.075 billion to $6.125 billion (new quarterly guide) |
| Non-GAAP EPS | Q4 FY2025 | $5.35 to $5.40 (new quarterly guide) |
| Metric | YoY | Note |
|---|---|---|
| Total revenue | +10% constant currency, +11% reported | record $5.99 billion on AI-infused and AI-first demand |
| Non-GAAP EPS | +14% | $5.31 |
| GAAP EPS | +11% | $4.18 |
| Digital Media ending ARR | +11.7% | $18.59 billion on Creative Cloud Pro, Acrobat, Firefly, and AI Assistant demand |
| Business professionals and consumers subscription revenue | +14% constant currency, +15% reported | $1.65 billion on Acrobat and Express MAU up approximately 25% and AI Assistant monetization |
| Creative and marketing professionals subscription revenue | +10% constant currency, +11% reported | $4.12 billion on CC Pro migration and Firefly adoption |
| AEP and apps ending ARR | +40% | enterprise focus on personalization at scale |
| Digital Experience subscription revenue | +11% | $1.37 billion, largest software provider in category |
| Topic | Previous mention | Current period | Trend |
|---|---|---|---|
| AI-influenced and AI-first ARR | over $3.5 billion AI-influenced exiting FY24 | AI-influenced ARR surpassed $5 billion and AI-first products passed the over $250 million full-year target a quarter early | — |
| Third-party model choice in Firefly | own Firefly models plus early partners | added Google Gemini Flash 2.5, Veo, and Imagen alongside OpenAI, Flux, Runway, Pika, and Ideogram, with Nano Banana launched same day as release | — |
| Acrobat evolution to Acrobat Studio | Acrobat AI Assistant | launched Acrobat Studio bringing PDF Spaces and Express together, with early adoption strong | — |
| Agentic web and LLM optimization | traditional search | LLM traffic to US retail sites grew 4,700% year-over-year in July 2025, driving Adobe LLM Optimizer entering general availability | — |
| GenStudio content supply chain | emerging enterprise solution | components exceeded $1 billion ARR up over 25%, with 60% year-over-year growth in cross-cloud one Adobe deals | — |