01—Abstract
Summary
Summary of the 10-Q filed May 22, 2025. Cited figures are marked; the original filing is the authoritative source.
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%a 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.
02—Key points
Key Highlights
- Total net revenue for Q3 FY2025 increased by 15% to $7.8 billion, and year-to-date revenue grew 14% to $15 billion.
- Operating income rose 20% in Q3 FY2025 to $3.7 billion and 21% year-to-date to $4.6 billion.
- Net income saw an 18% increase in Q3 FY2025 to $2.8 billion, and a 17% increase year-to-date to $3.5 billion.
- Diluted Earnings Per Share (EPS) grew significantly, up 19% in Q3 FY2025 to $10.02 and 17% year-to-date to $12.33.
- The Global Business Solutions segment revenue grew 19% in Q3 and 16% year-to-date, driven by the Online Ecosystem.
- Credit Karma segment revenue experienced strong growth, up 31% in Q3 and 32% year-to-date.
- Intuit continues to execute on its AI-driven expert platform strategy, focusing on 'done for you' experiences and personalized financial insights.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2025filed May 22, 2025Financial Statements
Q3 FY2025 against Q3 FY2024
| Line item | Q3 FY2025Q3 FY2024 | Change |
|---|---|---|
| Revenue | $7.75B$6.74B | +15.1% |
| R&D Expenses | $707.00M$671.00M | +5.4% |
| Operating Expenses | $4.03B$3.63B | +11.1% |
| Operating Income | $3.72B$3.10B | +19.8% |
| Interest Expense | $68.00M$60.00M | +13.3% |
| Net Income | $2.82B$2.39B | +18.0% |
| EPS (Basic) | $10.09$8.53 | +18.3% |
| EPS (Diluted) | $10.02$8.42 | +19.0% |
| Shares Outstanding (Basic) | 280.00M280.00M | 0.0% |
| Shares Outstanding (Diluted) | 282.00M284.00M | −0.7% |
05—Questions
Frequently Asked Questions
What were the key drivers of Intuit's revenue growth in the third quarter of fiscal year 2025?
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.
How did Intuit manage its expenses relative to its revenue growth?
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.
What is Intuit's strategy regarding Artificial Intelligence (AI)?
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.
How is Intuit returning capital to shareholders?
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.
06—Continue