Intuit Inc.

Intuit reported Q3 revenue of $8.6 billion, up 10% year over year. GAAP operating income was $4.0 billion versus $3.7 billion last year, and non-GAAP operating income was $4.7 billion versus $4.3 billion last year. GAAP diluted EPS was $11.09 versus $10.02 a year ago, and non-GAAP diluted EPS was $12.80 versus $11.65. For fiscal 2026, the company raised guidance to revenue of $21.341 billion to $21.374 billion, up 13% to 14%; GAAP EPS of $15.79 to $15.84; and non-GAAP EPS of $23.80 to $23.85. For Q4, it guided to revenue growth of 11% to 12%, GAAP EPS growth of $0.73 to $0.79, and non-GAAP EPS of $3.56 to $3.62.

Sasan Goodarzi framed the quarter as progress on Intuit’s AI-driven expert platform strategy and said the company is scaling three growth engines: assisted tax, money, and mid-market. He emphasized that customers buy “confidence, not code,” and said Intuit is positioning itself as a trusted system of intelligence for both consumers and businesses. His tone was confident and assertive, but he also acknowledged disappointment in the low-end DIY TurboTax segment and said the business model will be reworked to better serve price-sensitive filers.

Sandeep Aujla said the company exceeded the top end of guidance on revenue, operating income, and EPS, and tied the outperformance to disciplined management and AI efficiencies. He highlighted $6.8 billion in cash and investments, $6.2 billion in debt, and $1.6 billion of stock repurchased in Q3, more than double the prior year; share repurchases were up over 60% in the first three quarters. He also noted the quarterly dividend was raised to $1.20 per share, up 15%, and reiterated a long-term goal of at least mid-teens annual EPS growth, while saying $300 million in restructuring charges are included in GAAP guidance.

Analysts focused on whether the weak DIY tax results signaled a structural shift, whether AI could disrupt Intuit’s assisted category, and how the 17% workforce reduction tied to Mailchimp and AI efficiencies. Management said the DIY issue was mainly price sensitivity among a subset of under-$50,000 filers, not AI-driven disruption, and that the fix is a durable, value-based pricing and monetization model beyond tax. On AI, management argued that high-stakes tax and business decisions still require confidence, compliance, and human expertise, which supports Intuit’s assisted and business platforms. On restructuring, they said the cuts were driven by reduced management layers, coordination roles, duplication after TurboTax/Credit Karma integration, and resizing Mailchimp, with most savings expected to flow to margins and EPS.