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Adobe Inc.'s management tone tended to become more positive when quarterly net income improved.
Does not remain notable after adjusting for hundreds of tests. Why?
The analysis measures a same-filing relationship, not a forecast. Limitations
Each dot represents one 10-Q filing. Points farther right have more positive MD&A tone. Points higher on the chart had stronger year-over-year net income growth, after extreme percent changes are capped. Upper-right and lower-left points indicate tone and earnings moving in the same direction. How to read this chart
Tone and earnings moved in the same direction in 11 of 14 comparable quarters.
11 / 14 direction agreement
How is agreement calculated?| Spearman ρ (exact) | 0.211 (p=0.451) |
|---|---|
| Pearson r | -0.099 (p=0.726) |
| 95% CI (Pearson) | [-0.58, 0.44] |
| FDR q | 0.839 |
| Sample size (n) | 15 · More established sample |
| Agreement | 11 / 14 (11 / 14) |
Secondary to net income because revenue concepts are less comparable across some industries.
Annual samples are shorter and are not mixed into the default quarterly board.
Tone shown to three decimals so small nonzero values stay visible.
| Date | Form | Tone | Net income YoY | Revenue YoY |
|---|---|---|---|---|
| Jun 15, 2026 | 10-Q | +0.095 | +1.2% | +12.7% |
| Mar 25, 2026 | 10-Q | +0.109 | +4.3% | +12.0% |
| Sep 24, 2025 | 10-Q | +0.120 | +5.2% | +10.7% |
| Jun 25, 2025 | 10-Q | +0.127 | +7.5% | +10.6% |
| Mar 26, 2025 | 10-Q | +0.111 | +192.1% | +10.3% |
| Sep 25, 2024 | 10-Q | +0.116 | +20.0% | +10.6% |
| Jun 26, 2024 | 10-Q | +0.135 | +21.5% | +10.2% |
| Mar 27, 2024 | 10-Q | +0.127 | -50.3% | +11.3% |
| Sep 27, 2023 | 10-Q | +0.146 | +23.5% | +10.3% |
| Jun 28, 2023 | 10-Q | +0.138 | +9.9% | +9.8% |
| Mar 29, 2023 | 10-Q | +0.142 | -1.5% | +9.2% |
| Sep 28, 2022 | 10-Q | +0.141 | -6.3% | +12.7% |
| Jun 29, 2022 | 10-Q | +0.123 | +5.6% | +14.4% |
| Mar 30, 2022 | 10-Q | +0.079 | +0.4% | +9.1% |
| Sep 29, 2021 | 10-Q | +0.156 | +26.9% | +22.0% |
| Date | Form | Tone | Net income YoY | Revenue YoY |
|---|---|---|---|---|
| Jan 15, 2026 | 10-K | +0.116 | +28.2% | +10.5% |
| Jan 13, 2025 | 10-K | +0.124 | +2.4% | +10.8% |
| Jan 17, 2024 | 10-K | +0.147 | +14.1% | +10.2% |
| Jan 17, 2023 | 10-K | +0.154 | -1.4% | +11.5% |
| Jan 21, 2022 | 10-K | +0.157 | -8.3% | +22.7% |