01—Abstract
Summary
Summary of the 10-Q filed May 20, 2026. Cited figures are marked; the original filing is the authoritative source.
Intuit Inc. (INTU) reported strong financial results for the third quarter and the first nine months of fiscal year 2026.
Total net revenue increased by 10%a year-over-year for the quarter and 14% year-to-date, driven by robust growth in both the Global Business Solutions and Consumer segments. This revenue growth translated into significant improvements in profitability, with operating income up 8% for the quarter and 18% year-to-date, and net income rising 9% and 20% respectively. Diluted earnings per share also saw substantial increases, growing 11% in the quarter and 22% year-to-date.
The company's strategic focus on its AI-driven expert platform and 'Big Bets' appears to be resonating with customers, as evidenced by strong performance in services like QuickBooks Online and assisted tax offerings. The Global Business Solutions segment, in particular, demonstrated impressive 15%b revenue growth for the quarter and 17% year-to-date, largely fueled by its Online Ecosystem.
The Consumer segment also showed solid growth, with an 8%c increase in quarterly revenue, driven by strength in assisted tax and consumer money products, as well as Credit Karma's verticals. Intuit continues to actively return capital to shareholders through share repurchases and dividends, demonstrating confidence in its financial position and future prospects.
02—Key points
Key Highlights
- Total net revenue grew 10% in Q3 FY26 and 14% year-to-date, reaching $8.6 billion and $17.1 billion respectively.
- Net income increased 9% in Q3 FY26 and 20% year-to-date, amounting to $3.1 billion and $4.2 billion respectively.
- Diluted EPS rose 11% in Q3 FY26 to $11.09 and 22% year-to-date to $15.05.
- Global Business Solutions segment revenue increased 15% in Q3 FY26 and 17% year-to-date, highlighting strong performance in its online ecosystem.
- Consumer segment revenue grew 8% in Q3 FY26 and 10% year-to-date, driven by assisted tax offerings and consumer money products.
- The company's cash, cash equivalents, and investments stood at $6.8 billion as of April 30, 2026, showing a healthy increase from the prior year.
- Intuit continued its robust share repurchase program, buying back approximately 3.7 million shares in Q3 FY26 for an average price of $413.13 per share.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2026filed May 20, 2026Financial Statements
Q3 FY2026 against Q3 FY2025
| Line item | Q3 FY2026Q3 FY2025 | Change |
|---|---|---|
| Revenue | $8.56B$7.75B | +10.4% |
| R&D Expenses | $840.00M$707.00M | +18.8% |
| Operating Expenses | $4.54B$4.03B | +12.5% |
| Operating Income | $4.02B$3.72B | +8.1% |
| Interest Expense | $70.00M$68.00M | +2.9% |
| Net Income | $3.06B$2.82B | +8.7% |
| EPS (Basic) | $11.10$10.09 | +10.0% |
| EPS (Diluted) | $11.09$10.02 | +10.7% |
| Shares Outstanding (Basic) | 276.00M280.00M | −1.4% |
| Shares Outstanding (Diluted) | 276.00M282.00M | −2.1% |
05—Questions
Frequently Asked Questions
What were the primary drivers of revenue growth in the third quarter of fiscal year 2026?
Revenue growth was primarily driven by strong performance in both the Global Business Solutions segment, up 15% due to its Online Ecosystem, and the Consumer segment, up 8% driven by assisted tax and consumer money offerings. Specific contributors included QuickBooks Online Accounting revenue growth and strength in Credit Karma's personal loan and insurance verticals.
How is Intuit managing its capital and returning value to shareholders?
Intuit reported $6.8 billion in cash, cash equivalents, and investments as of April 30, 2026. The company continues to actively return capital to shareholders through share repurchases, having repurchased approximately 3.7 million shares in Q3 FY26, and by paying quarterly cash dividends, totaling $1.0 billion for the first nine months of fiscal 2026.
What is the company's outlook regarding its AI strategy and its impact on future growth?
Intuit emphasizes its AI-driven expert platform strategy as a key differentiator. The company has launched transformative AI agents and invested in its Generative AI Operating System (GenOS) to automate workflows, provide insights, and enhance customer experiences across its products. This strategy is expected to fuel durable growth and disrupt the categories in which Intuit operates.
Are there any significant restructuring or one-time charges impacting the financial results?
The company initiated a '2026 Plan' in May 2026 to simplify its organizational structure, which is estimated to incur approximately $300 million to $340 million in restructuring charges, primarily in the fourth fiscal quarter ending July 31, 2026, mainly related to severance payments. These charges were not material to the reported results for the third quarter or year-to-date period ended April 30, 2026.
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