Intuit Inc. (Nasdaq: INTU) delivered a strong second quarter for fiscal 2026, reporting revenue growth of 17% year-over-year to $4.7 billion for the period ending January 31, as the company continues expanding its AI-driven financial platform strategy.

CEO Sasan Goodarzi highlighted the company’s focus on what he described as a new category at the intersection of AI and human intelligence, emphasizing “autonomous, done-for-you experiences” across tax, small business, and mid-market enterprise solutions.

Q2 FY26 Financial Highlights

Revenue: $4.651 billion, up 17%
GAAP Operating Income: $855 million, up 44%
Non-GAAP Operating Income: $1.549 billion, up 23%
GAAP Diluted EPS: $2.48, up 49%
Non-GAAP Diluted EPS: $4.15, up 25%

The margin expansion reflects disciplined cost management alongside top-line growth.

CFO Sandeep Aujla said momentum across the company’s “big bets” gives management high confidence in delivering double-digit revenue growth and margin expansion for the full fiscal year.

Segment Performance

Global Business Solutions (GBS)

GBS revenue rose 18% to $3.2 billion.

• Online Ecosystem revenue: $2.5 billion, up 21%

• Excluding Mailchimp, GBS grew 21%

• Online Ecosystem revenue excluding Mailchimp grew 25%

Key drivers:

• QuickBooks Online Accounting revenue increased 24%, fueled by pricing, customer growth, and product mix shift.

• Online Services revenue grew 18%, driven by payroll and money offerings.

• International online revenue rose 9% on a constant currency basis.

Intuit noted that Mailchimp is expected to return to double-digit growth beyond fiscal 2026.

Consumer Segment

Consumer revenue increased 15% to $1.5 billion.

• Credit Karma revenue: $616 million, up 23%

• TurboTax revenue: $581 million, up 12%

• ProTax revenue: $290 million, up 7%

Credit Karma benefited from strong demand in personal loans, credit cards, and auto insurance, while TurboTax growth reflects ongoing digital tax adoption.

Capital Allocation & Balance Sheet

As of January 31, 2026:

• Cash and investments: ~$3.0 billion

• Debt: $6.2 billion

Key actions:

• Entered and subsequently terminated a $5.8 billion revolving credit facility tied to TurboTax early refund offerings.

• Replaced a prior credit agreement with a new $2.2 billion unsecured revolving credit facility maturing in 2031.

• Repurchased $961 million in shares during the quarter.

• $3.5 billion remains under the current repurchase authorization.

• Approved a quarterly dividend of $1.20 per share, payable April 17, 2026 — a 15% increase year-over-year.

Full-Year FY26 Guidance (Reiterated)

Intuit reaffirmed its fiscal 2026 outlook:

• Revenue: $20.997B–$21.186B (12–13% growth)

• GAAP Operating Income: $5.782B–$5.859B (17–19% growth)

• Non-GAAP Operating Income: $8.611B–$8.688B (14–15% growth)

• GAAP EPS: $15.49–$15.69 (13–15% growth)

• Non-GAAP EPS: $22.98–$23.18 (14–15% growth)

Segment Outlook

• Global Business Solutions: 14–15% growth

• Consumer: 8–9% growth

  • TurboTax: ~8%

  • Credit Karma: 10–13%

  • ProTax: 2–3%

Q3 FY26 Guidance

For the quarter ending April 30:

• Revenue growth of approximately 10%

• GAAP EPS: $10.56–$10.62

• Non-GAAP EPS: $12.45–$12.51

Strategic Context

Intuit’s results underscore continued execution across its AI-enabled platform strategy, integrating financial software, consumer finance, marketing automation, and enterprise solutions.

The company is increasingly positioning itself not just as a financial software provider, but as an AI-native financial technology ecosystem spanning consumers, small businesses, and mid-market enterprises.

With double-digit revenue growth, expanding margins, and reiterated guidance, Intuit enters the second half of fiscal 2026 with strong operational momentum.

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