Intuit Posts 10% Revenue Rise in Q3

Intuit reported third-quarter fiscal 2026 net revenue of $8.6 billion on 20 May 2026, marking a 10% increase from the prior-year period. The figure topped consensus analyst expectations of $8.54 billion. Both GAAP and non-GAAP operating income rose 8% year over year, reaching $4.0 billion and $4.7 billion respectively.

GAAP diluted earnings per share came in at $11.09, compared with $10.02 in the third quarter of fiscal 2025. Non-GAAP diluted earnings per share reached $12.80, up from $11.65 a year earlier and above the consensus analyst estimate of $12.57. During the quarter, Intuit repurchased $1.6 billion worth of its shares.

The Consumer segment generated $5.3 billion in revenue, up 8%, with TurboTax contributing $4.4 billion at a 7% growth rate. Credit Karma revenue rose 15% to $631 million, while ProTax delivered $278 million. Global Business Solutions revenue grew 15% to $3.3 billion, led by a 19% rise in Online Ecosystem revenue to $2.5 billion and a 22% increase in QuickBooks Online Accounting revenue.

For the full fiscal year 2026, Intuit projects revenue between $21.341 billion and $21.374 billion. It expects full-year GAAP diluted earnings per share of $15.79 to $15.84, with non-GAAP diluted earnings per share projected between $23.80 and $23.85, alongside estimated workforce restructuring charges of $300 million. For the fourth quarter of fiscal 2026, revenue growth is forecast between 11% and 12%.