01—Abstract
Summary
Summary of the 10-Q filed February 26, 2026. Cited figures are marked; the original filing is the authoritative source.
Intuit Inc. reported strong financial results for the second quarter and first six months of fiscal year 2026, demonstrating robust revenue growth and significant improvements in profitability.
Total net revenue for the quarter increased by 17% year-over-year to $4.65 billiona, driven by strong performance in both the Global Business Solutions and Consumer segments. For the six-month period, total net revenue rose by 18% to $8.54 billion. Net income saw substantial year-over-year growth, up 47% for the quarter to $693 million and 71% for the year-to-date period to $1.14 billion.
Diluted earnings per share also showed impressive gains, increasing by 49% for the quarter to $2.48b and 72% for the year-to-date period to $4.06. The company's strategic focus on its AI-driven expert platform appears to be yielding positive results, with continued innovation and a strong emphasis on delivering 'done-for-you' experiences for both consumers and businesses.
The growth in revenue across both key segments highlights the breadth of Intuit's offerings and its ability to serve diverse customer needs. Investors should note the company's continued investment in AI and its commitment to expanding its platform capabilities, which are key drivers for future growth.
02—Key points
Key Highlights
- Total net revenue increased by 17% to $4.65 billion for the second quarter of fiscal 2026, and by 18% to $8.54 billion for the first six months.
- Net income grew significantly, up 47% to $693 million for the quarter and 71% to $1.14 billion year-to-date.
- Diluted earnings per share (EPS) surged by 49% to $2.48 for the quarter and 72% to $4.06 year-to-date, indicating strong profitability.
- Both the Global Business Solutions segment (up 18% revenue) and the Consumer segment (up 15% revenue for the quarter, 17% year-to-date) demonstrated robust growth, reflecting diversified revenue streams.
- The company continues to invest in its AI-driven expert platform strategy, which is a key focus for innovation and future growth.
- Intuit actively returned capital to shareholders through $1.8 billion in stock repurchases and $684 million in dividends during the first six months of fiscal 2026.
- The company maintained a strong liquidity position with $3.0 billion in cash, cash equivalents, and investments as of January 31, 2026.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2026filed February 26, 2026Financial Statements
Q2 FY2026 against Q2 FY2025
| Line item | Q2 FY2026Q2 FY2025 | Change |
|---|---|---|
| Revenue | $4.65B$3.96B | +17.4% |
| R&D Expenses | $836.00M$716.00M | +16.8% |
| Operating Expenses | $3.80B$3.37B | +12.6% |
| Operating Income | $855.00M$593.00M | +44.2% |
| Interest Expense | $58.00M$60.00M | −3.3% |
| Net Income | $693.00M$471.00M | +47.1% |
| EPS (Basic) | $2.49$1.68 | +48.2% |
| EPS (Diluted) | $2.48$1.67 | +48.5% |
| Shares Outstanding (Basic) | 278.00M280.00M | −0.7% |
| Shares Outstanding (Diluted) | 280.00M283.00M | −1.1% |
05—Questions
Frequently Asked Questions
What were the main drivers of Intuit's revenue growth in the reported period?
Revenue growth was primarily driven by strong performance across both segments. The Global Business Solutions segment benefited from growth in its Online Ecosystem, including QuickBooks Online Accounting and Online Services like payments and payroll. The Consumer segment saw increased revenue from Credit Karma verticals (personal loans, credit cards, insurance) and strength in TurboTax, particularly in assisted tax services and consumer money offerings.
How is Intuit leveraging Artificial Intelligence (AI) and what is its impact?
Intuit is strategically investing in its AI-driven expert platform, focusing on delivering 'done-for-you' experiences through AI agents and AI-enabled human experts. This strategy aims to automate tasks, provide actionable insights, and manage end-to-end workflows to drive better money outcomes for customers. The company is also developing its proprietary Generative AI Operating System (GenOS) to accelerate innovation and deliver intelligent financial solutions.
What is Intuit's approach to capital allocation and shareholder returns?
Intuit is committed to returning excess cash to shareholders. During the first six months of fiscal 2026, the company repurchased $1.8 billion of its common stock and paid $684 million in dividends. The company has substantial remaining authorization for future stock repurchases and continues to pay regular quarterly dividends, subject to Board of Directors' approval.
How does seasonality impact Intuit's financial performance?
Intuit's Consumer segment, particularly its TurboTax and ProTax offerings, experiences significant seasonality, with revenues heavily concentrated between November and April due to the income tax preparation cycle. This pattern leads to higher revenues in the second and third fiscal quarters and is expected to continue impacting quarterly financial results.
06—Continue