Intuit (INTU) Tops Q3 EPS by 23c

Intuit (NASDAQ: INTU) reported Q3 EPS of $12.80, $0.23 better than the analyst estimate of $12.57. Revenue for the quarter came in at $8.6 billion versus the consensus estimate of $8.54 billion.

For the full fiscal year, Intuit expects:

• TurboTax Live revenue to grow 36 percent to $2.8 billion, representing approximately 53 percent of total TurboTax revenue, and TurboTax Live customers to grow 38 percent.
• TurboTax Online paying units to grow 2 percent on share gains from higher average revenue per user (ARPU) filers, and ARPU to increase approximately 11 percent, as more customers chose assisted offerings and faster access to refunds.
• TurboTax filers who started their filing experience in Credit Karma to grow 54 percent.
• Total TurboTax Online units to decline approximately 2 percent, and TurboTax share of e-files to decline approximately 1 point. Pay-nothing customers of approximately 7 million, down from 8 million last year.

Intuit plans to provide a TurboTax federal tax unit comparison in its fourth-quarter 2026 earnings release.

Forward-looking Guidance

Intuit raised total company guidance for revenue and all non-GAAP metrics for the full fiscal year 2026. The company expects:

• Revenue of $21.341 billion to $21.374 billion, growth of approximately 13 to 14 percent.
• GAAP operating income of $5.705 billion to $5.725 billion, growth of approximately 16 percent.
• Non-GAAP operating income of $8.784 billion to $8.804 billion, growth of approximately 16 percent.
• GAAP diluted earnings per share of $15.79 to $15.84, growth of approximately 16 percent.
• Non-GAAP diluted earnings per share of $23.80 to $23.85, growth of approximately 18 percent.

The company also updated full fiscal year 2026 segment revenue guidance:

Global Business Solutions: raised growth to approximately 16 percent.
Consumer: raised growth to approximately 10 percent. This includes TurboTax growth of approximately 7 percent, Credit Karma growth of approximately 19 percent, and ProTax growth of approximately 4 percent.

Intuit announced guidance for the fourth quarter of fiscal year 2026, which ends July 31. The company expects:

• Revenue growth of approximately 11 to 12 percent.
• GAAP diluted earnings per share of $0.73 to $0.79.
• Non-GAAP diluted earnings per share of $3.56 to $3.62.

For earnings history and earnings-related data on Intuit (INTU) click here.

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