10-QPeriod: Q3 FY2025

INTUIT INC. Quarterly Report for Q3 Ended Apr 30, 2025

Filed May 22, 2025For Securities:INTU

Summary

Intuit Inc. reported strong financial results for the third quarter and the first nine months of fiscal year 2025, demonstrating robust revenue and profit growth across its key business segments. Total net revenue increased by 15% in the quarter and 14% year-to-date, driven primarily by strong performance in the Global Business Solutions and Consumer segments, as well as significant growth in Credit Karma. The company's operational efficiency is evident in the growth of operating income, which outpaced revenue growth, signaling effective cost management. Diluted net income per share also saw substantial increases, reflecting strong profitability. Intuit continues to emphasize its AI-driven expert platform strategy, aiming to revolutionize speed to benefit for customers, connect them to experts, and unlock smart money decisions. The company also maintained a strong liquidity position and continued its commitment to returning capital to shareholders through dividends and share repurchases.

Financial Highlights

51 data points
Beta

Revenue

$7.75B

Net Income

$2.82B

36.4% Net Margin

EPS (Diluted)

$10.02

Total Assets

$36.59B

Cash & Equivalents

$5.44B

Free Cash Flow

$4.36B

Financial Statements
Beta
Revenue$7.75B
R&D Expenses$707.00M
Operating Expenses$4.03B
Operating Income$3.72B
Interest Expense$68.00M
Net Income$2.82B
EPS (Basic)$10.09
EPS (Diluted)$10.02
Shares Outstanding (Basic)280.00M
Shares Outstanding (Diluted)282.00M

Key Highlights

  • 1Total net revenue for Q3 FY2025 increased by 15% to $7.8 billion, and year-to-date revenue grew 14% to $15 billion.
  • 2Operating income rose 20% in Q3 FY2025 to $3.7 billion and 21% year-to-date to $4.6 billion.
  • 3Net income saw an 18% increase in Q3 FY2025 to $2.8 billion, and a 17% increase year-to-date to $3.5 billion.
  • 4Diluted Earnings Per Share (EPS) grew significantly, up 19% in Q3 FY2025 to $10.02 and 17% year-to-date to $12.33.
  • 5The Global Business Solutions segment revenue grew 19% in Q3 and 16% year-to-date, driven by the Online Ecosystem.
  • 6Credit Karma segment revenue experienced strong growth, up 31% in Q3 and 32% year-to-date.
  • 7Intuit continues to execute on its AI-driven expert platform strategy, focusing on 'done for you' experiences and personalized financial insights.

Frequently Asked Questions

Intuit's revenue growth was driven by strong performance across its segments. The Global Business Solutions segment saw increased revenue primarily from its Online Ecosystem, while the Consumer segment benefited from growth in higher-priced offerings like TurboTax Live and early tax refund services. Credit Karma also contributed significantly with robust growth in its credit card, personal loan, and auto insurance verticals.

Intuit demonstrated strong operational efficiency. While total net revenue increased by 15% in the third quarter, total operating expenses increased by only 11%. This indicates that operating income grew faster than revenue, suggesting effective cost management and improved profitability.

Intuit is heavily investing in an AI-driven expert platform strategy. This includes leveraging generative AI to deliver 'done for you' experiences, connect customers with AI-powered human experts, and provide personalized financial insights through its extensive data sets. The company sees AI as a key technological shift that positions it for future growth and innovation.

Intuit continues to return capital to shareholders through a combination of cash dividends and share repurchases. For the nine months ended April 30, 2025, the company declared dividends totaling $891 million. Additionally, Intuit repurchased $2.0 billion of its common stock during the same period, with an authorized remaining amount of $2.8 billion under its current repurchase program.