Intuit Stock Earnings Reports

Intuit reported a strong Q2 FY2026 with revenue of $4.7B, up 17%, driven by broad-based momentum across its three strategic growth vectors: AI+Human Intelligence (HI) powered "done-for-you" experiences, money (payments, capital, bill pay, payroll), and an AI-native mid-market ERP (Intuit Enterprise Suite). Key operational highlights: over 3M customers have used AI agents (85% repeat engagement), accounting agents categorized 237M transactions in January, payments volume (including bill pay) grew 29%, QuickBooks Live customer count grew >50% year-over-year, and Credit Karma revenue grew 23%. TurboTax revenue grew 12% despite IRS filing timing headwinds. Mid-market traction is strong (online ecosystem revenue for QBO Advanced and IES up ~40%), new IES contracts grew ~50% QoQ, and Intuit is expanding its mid-market direct sales force by ~30%. Intuit announced multi-year partnership with Anthropic (and has apps in OpenAI’s App Directory) to extend context-specific capabilities while maintaining proprietary data and experience ownership. Mailchimp continues to lag (slower recovery; expected return to double-digit growth beyond FY2026). Financials: GAAP operating income $855M (vs. $593M LY); GAAP EPS $2.48; non-GAAP EPS $4.15. Balance sheet: ~$3B cash, $6.2B debt; repurchased $961M stock in Q2; dividend up 15% to $1.20/quarter. Management reaffirmed FY2026 guidance: revenue growth 12–13% (~$21.0–$21.2B), GAAP EPS $15.49–$15.69, non-GAAP EPS $22.98–$23.18, and Q3 revenue growth target of 10%. Management emphasized that Intuit’s competitive moat is proprietary data, domain-specific models, and AI+HI, enabling pricing power, margin expansion, and durable TAM expansion in a high-liability, regulated financial category.