Intuit Inc. reported fiscal second‑quarter 2026 revenue of $4.651 billion, a 17% year‑over‑year increase that surpassed consensus estimates of $4.53 billion. The growth was driven by strong demand for QuickBooks, TurboTax, and Credit Karma, while the AI‑driven platform continued to add value for customers and helped offset headwinds in legacy products.
Operating income rose to $855 million, a 44% increase from the same quarter a year earlier, and operating margin expanded to 18.4% from 17.5% in 2025. The margin lift reflects disciplined cost management and the impact of AI efficiencies that have lowered support and infrastructure costs while maintaining pricing power in high‑margin segments.
Non‑GAAP earnings per share reached $4.15, a 25% increase over the prior year’s $3.32 and a $0.49 beat over the consensus estimate of $3.66. The earnings beat was largely driven by the combination of higher revenue, improved operating leverage, and the AI platform’s ability to deliver productivity gains that reduce per‑unit costs.
Intuit guided for Q3 2026 earnings per share of $12.45 to $12.51, below the consensus estimate of $12.97, citing increased marketing and customer‑support spend during the U.S. tax season. The company reiterated its full‑year guidance of $20.997 billion to $21.186 billion in revenue and $22.98 to $23.18 in EPS, signaling confidence in long‑term growth despite near‑term softness.
Segment analysis shows Global Business Solutions grew 18% and Consumer grew 15%, but Mailchimp’s performance lagged, dragging overall growth. The AI‑Human Intelligence strategy, highlighted by partnerships with firms such as Anthropic, is positioned to create a new category in financial technology. Intuit also repurchased $961 million of stock in Q2 and increased its quarterly dividend by 15% to $1.20 per share.
Market reaction was tempered by the softer Q3 outlook, with investors focusing on the higher marketing spend and the impact of the tax‑season cycle. The company’s reaffirmation of full‑year guidance and the continued emphasis on AI efficiencies suggest management’s confidence in sustaining profitability over the long term.
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