Key Highlights

  • Intuit delivered adjusted EPS of $4.15, surpassing analyst expectations of $3.68, while revenue climbed 17% to $4.65 billion
  • Company’s Q3 forecast disappointed: $12.45–$12.51 EPS versus analyst consensus of $12.97
  • CEO Sasan Goodarzi positions AI as collaborative opportunity, announces Anthropic partnership
  • Shares declined approximately 4% in premarket Friday trading, adding to 40% year-to-date losses
  • Company approved quarterly dividend of $1.20 per share, marking 15% year-over-year increase

Intuit surpassed Wall Street projections for its fiscal second quarter, though conservative third-quarter projections triggered share price decline.

The software company delivered adjusted earnings of $4.15 per share, significantly exceeding the analyst projection of $3.68. Revenue reached $4.65 billion, representing a 17% year-over-year increase and surpassing the $4.53 billion consensus forecast.

Adjusted operating income advanced 23% to $1.5 billion.


INTU Stock Card
Intuit Inc., INTU

CEO Sasan Goodarzi characterized the performance as an “outstanding second quarter, driven by disciplined execution.”

The company’s Q3 outlook — covering its crucial tax season period — came in below analyst projections. Management expects adjusted EPS between $12.45 and $12.51, trailing the Wall Street consensus of $12.97.

Third-quarter revenue is projected to increase approximately 10% year-over-year to roughly $4.36 billion — falling short of analyst forecasts calling for $4.53 billion.

Shares retreated about 4% in premarket trading Friday morning, following a 3.5% gain during the previous session.

Strategic AI Collaboration Approach

Intuit stock has declined nearly 40% year-to-date, primarily driven by market concerns that artificial intelligence tools might disrupt the tax and accounting software industry.

Goodarzi addressed these concerns directly. He explained to Barron’s that consumers preparing taxes prefer working with established, trustworthy companies, while AI firms typically avoid the legal responsibilities associated with tax preparation services.

He emphasized that Anthropic and OpenAI “do not have, nor do they want to have, the capability” Intuit has developed — noting the extensive time required to build such infrastructure.

Intuit revealed a collaboration with Anthropic this week to deliver custom AI agents to mid-market businesses utilizing its platform. The company had earlier disclosed a comparable arrangement with OpenAI.

Jefferies analyst Brent Thill suggested Intuit’s robust first-half results “makes reiterated FY26 guide look conservative” and confirmed a Buy rating, noting that “INTU’s moat in AI remains misunderstood.”

Annual Projections Remain Intact

Intuit maintained its full fiscal year 2026 outlook without adjustment. The company anticipates adjusted EPS between $22.98 and $23.18, representing approximately 14% to 15% growth.

Full-year revenue projections remain within the $21 billion to $21.2 billion range, suggesting 12% to 13% expansion.

Goodarzi emphasized that Intuit typically reserves full-year guidance updates until after Q3 concludes, reflecting that quarter’s significance to overall business performance.

Wolfe Research’s Alex Zukin stated the results “reiterate our positive view on growth durability,” while adjusting his price target to $550 from $685 and maintaining an Outperform rating.

William Blair analyst Arjun Bhatia described Intuit as a “mission-critical platform for small businesses” that continues positioning itself strategically for the AI era.

Intuit announced a quarterly dividend of $1.20 per share, scheduled for payment on April 17, 2026 — representing a 15% increase compared to the prior year period.