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Intuit Beats Expectations With AI Strategy Driving Growth

MarketDash Editorial Team
17 days ago
Intuit delivered strong first-quarter results for fiscal 2026, with revenue jumping 18% year-over-year as the company doubles down on its AI-driven platform strategy across QuickBooks, TurboTax, and Credit Karma.

Intuit Inc. (INTU) just proved that its bet on artificial intelligence is starting to pay off. The software giant behind QuickBooks, TurboTax, and Credit Karma reported first-quarter fiscal 2026 results Thursday after the close that handily beat Wall Street's expectations.

The Numbers That Matter: Revenue came in at roughly $3.89 billion, cruising past analyst estimates of $3.76 billion. Adjusted earnings hit $3.34 per share, comfortably ahead of the $3.09 consensus, according to Benzinga Pro.

Total revenue climbed 18% compared to the same quarter last year. Here's how the different parts of the business performed:

  • Global Business Solutions: $3 billion, up 18%
  • Consumer: $894 million, up 21%
  • Total Online Ecosystem: $2.4 billion, up 21%

The company closed the quarter with $3.7 billion in cash and investments against $6.1 billion in debt.

The AI Angle: CEO Sasan Goodarzi made it clear that artificial intelligence isn't just marketing speak for Intuit. "We delivered an exceptional first quarter as we continue to execute on our AI-driven expert platform strategy," he said. "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."

Capital Allocation: Intuit put $851 million toward share buybacks during the quarter, leaving $4.4 billion remaining under its repurchase authorization. The board also approved a quarterly dividend of $1.20 per share, payable January 16, 2026.

Looking Ahead: For the second quarter, management expects revenue growth of approximately 14% to 15%, with adjusted earnings between $3.63 and $3.68 per share. That earnings guidance sits below the analyst consensus of $3.83 per share.

For the full fiscal 2026, Intuit maintains its revenue outlook of $21 billion to $21.19 billion versus estimates of $21.16 billion. Full-year adjusted earnings are still expected to land between $22.98 and $23.18 per share, matching the high end of analyst expectations at $23.18.

Market Reaction: Investors seemed pleased with the results. Intuit shares gained 2.76% in after-hours trading, reaching $655.01 at the time of publication Thursday.

Back to News

Intuit Beats Expectations With AI Strategy Driving Growth

MarketDash Editorial Team
17 days ago
Intuit delivered strong first-quarter results for fiscal 2026, with revenue jumping 18% year-over-year as the company doubles down on its AI-driven platform strategy across QuickBooks, TurboTax, and Credit Karma.

Intuit Inc. (INTU) just proved that its bet on artificial intelligence is starting to pay off. The software giant behind QuickBooks, TurboTax, and Credit Karma reported first-quarter fiscal 2026 results Thursday after the close that handily beat Wall Street's expectations.

The Numbers That Matter: Revenue came in at roughly $3.89 billion, cruising past analyst estimates of $3.76 billion. Adjusted earnings hit $3.34 per share, comfortably ahead of the $3.09 consensus, according to Benzinga Pro.

Total revenue climbed 18% compared to the same quarter last year. Here's how the different parts of the business performed:

  • Global Business Solutions: $3 billion, up 18%
  • Consumer: $894 million, up 21%
  • Total Online Ecosystem: $2.4 billion, up 21%

The company closed the quarter with $3.7 billion in cash and investments against $6.1 billion in debt.

The AI Angle: CEO Sasan Goodarzi made it clear that artificial intelligence isn't just marketing speak for Intuit. "We delivered an exceptional first quarter as we continue to execute on our AI-driven expert platform strategy," he said. "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."

Capital Allocation: Intuit put $851 million toward share buybacks during the quarter, leaving $4.4 billion remaining under its repurchase authorization. The board also approved a quarterly dividend of $1.20 per share, payable January 16, 2026.

Looking Ahead: For the second quarter, management expects revenue growth of approximately 14% to 15%, with adjusted earnings between $3.63 and $3.68 per share. That earnings guidance sits below the analyst consensus of $3.83 per share.

For the full fiscal 2026, Intuit maintains its revenue outlook of $21 billion to $21.19 billion versus estimates of $21.16 billion. Full-year adjusted earnings are still expected to land between $22.98 and $23.18 per share, matching the high end of analyst expectations at $23.18.

Market Reaction: Investors seemed pleased with the results. Intuit shares gained 2.76% in after-hours trading, reaching $655.01 at the time of publication Thursday.

    Intuit Beats Expectations With AI Strategy Driving Growth - MarketDash News