“For Q3, we assume non GAAP operating of approximately 44% and a GAAP tax rate of approximately 23% and a non GAAP tax rate of approximately 18%.”

In context

“of approximately 45% a GAAP tax rate of approximately 22.5%, and a non GAAP tax rate of approximately 18%. FY 2026 total Adobe ARR growth target of 10.2% now reflects both the addition of the SEMRush book of business as well as the strategic choice to accelerate MAU premium growth and defer previously planned Creative Cloud line optimizations. We believe this is the right long term strategy to expand our customer base and strengthen the foundation for durable growth. For Q3 FY 26, we are targeting total Adobe revenue of $6.67 billion to $6.72 billion Business professionals and consumer subscription revenue of $1.87 billion to $1.89 billion Creative and marketing professional subscription revenue of $4.61 billion to $4.64 billion GAAP EPS of $4.4 to $4.45 and non GAAP EPS of $6.05 to $6.10 For Q3, we assume non GAAP operating of approximately 44% and a GAAP tax rate of approximately 23% and a non GAAP tax rate of approximately 18%. We believe Adobe is well positioned to capitalize on the expanding AI opportunity. Our focus remains on helping customers achieve better outcomes through innovation, relentless execution, and deep integration of AI across our portfolio. We are expanding our user base, deepening engagement, and investing with discipline in the opportunities that will drive Adobe's next phase of growth. Shantanu Narayen: Thanks, Steven. We are at a transformative moment in the industry and for the company. The convergence of AI, agentic workflows and the explosion of content demand is creating significant opportunities that play directly to Adobe's strength. My focus continues to be driving execution against our product roadmap and successfully expanding to new monetization models, that reflect how the dive”