Intuit: Reports Strong First-Quarter Results and Reiterates Full-Year Guidance

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Information Source: Intuit Inc

Global Business Solutions Online Ecosystem Revenue Grew 21 per cent; Consumer Revenue Grew 21 per cent
Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced financial results for the first quarter of fiscal 2026, which ended October 31.
"We delivered an exceptional first quarter as we continue to execute on our AI-driven expert platform strategy. Intuit is creating a system of intelligence, leveraging data, data services, AI, and human intelligence to fuel the success of consumers, small and mid-market businesses, and accountants," said Sasan Goodarzi, Intuit's chief executive officer. "We launched significant done-for-you innovations across our platform that are helping businesses manage from lead to cash, and consumers manage credit building to wealth building, all in one place."
Financial Highlights
For the first quarter, Intuit:
  • Grew total revenue to $3.9 billion, up 18 per cent.
  • Increased Global Business Solutions revenue to $3.0 billion, up 18 per cent; grew Online Ecosystem revenue to $2.4 billion, up 21 per cent. Excluding Mailchimp, Global Business Solutions revenue grew 20 per cent, and Online Ecosystem revenue grew 25 per cent.
  • Grew Consumer revenue to $894 million, up 21 per cent.
  • Increased GAAP operating income to $534 million, up 97 per cent.
  • Grew non-GAAP operating income to $1.3 billion, up 32 per cent.
  • Increased GAAP diluted earnings per share to $1.59, up 127 per cent.
  • Grew non-GAAP diluted earnings per share to $3.34, up 34 per cent.
Unless otherwise noted, all growth rates refer to the current period versus the comparable prior-year period, and the business metrics and associated growth rates refer to worldwide business metrics.
"We delivered a strong first quarter of fiscal 2026, driven by continued momentum across the company," said Sandeep Aujla, Intuit's chief financial officer. "We are confident in delivering double-digit revenue growth and expanding margin this year, and we are reiterating our full-year guidance for fiscal 2026."
Business Segment Results
Global Business Solutions
Global Business Solutions revenue grew to $3.0 billion, up 18 per cent, and Online Ecosystem revenue increased to $2.4 billion, up 21 per cent.
  • QuickBooks Online Accounting revenue grew 25 per cent in the quarter, driven by higher effective prices, customer growth, and mix-shift.
  • Online Services revenue grew 17 per cent, driven by growth in money and payroll offerings.
  • Total international online revenue grew 9 per cent on a constant currency basis.
Consumer
Consumer revenue of $894 million was up 21 per cent in the quarter.
  • Credit Karma revenue grew 27 per cent to $651 million, driven by strength in personal loans, credit cards, and auto insurance.
  • TurboTax revenue grew 6 per cent to $198 million.
  • ProTax revenue grew 15 per cent to $45 million.
Capital Allocation Summary
The company:
  • Reported a total cash and investments balance of approximately $3.7 billion and $6.1 billion in debt as of October 31, 2025.
  • Repurchased $851 million of stock, and $4.4 billion remains on the company's share repurchase authorisation.
  • Received Board approval for a quarterly dividend of $1.20 per share, payable January 16, 2026. This represents a 15 per cent increase per share compared to the same period last year.
Forward-looking Guidance
Intuit reiterated guidance for the full fiscal year 2026. The company expects:
  • Revenue of $20.997 billion to $21.186 billion, growth of approximately 12 to 13 per cent.
  • GAAP operating income of $5.782 billion to $5.859 billion, growth of approximately 17 to 19 per cent.
  • Non-GAAP operating income of $8.611 billion to $8.688 billion, growth of approximately 14 to 15 per cent.
  • GAAP diluted earnings per share of $15.49 to $15.69, growth of approximately 13 to 15 per cent.
  • Non-GAAP diluted earnings per share of $22.98 to $23.18, growth of approximately 14 to 15 per cent.
The company also reiterated full fiscal year 2026 segment revenue guidance:
  • Global Business Solutions: growth of 14 to 15 per cent. Excluding Mailchimp, the company expects Global Business Solutions Group revenue growth of 15.5 per cent to 16.5 per cent.
  • Consumer: growth of 8 to 9 per cent. This includes TurboTax growth of 8 per cent, Credit Karma growth of 10 to 13 per cent, and ProTax growth of 2 to 3 per cent.
Intuit announced guidance for the second quarter of fiscal year 2026, which ends January 31. The company expects:
  • Revenue growth of approximately 14 to 15 per cent.
  • GAAP diluted earnings per share of $1.76 to $1.81.
  • Non-GAAP diluted earnings per share of $3.63 to $3.68.
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Intuit Inc
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