Intuit(INTU) - 2026 Q1 - Quarterly Results

Revenue Performance - Total revenue for the first quarter reached $3.9 billion, an increase of 18% year-over-year[3] - Global Business Solutions revenue grew to $3.0 billion, up 18%, while Online Ecosystem revenue increased to $2.4 billion, up 21%[6] - Consumer revenue rose to $894 million, reflecting a 21% growth compared to the previous year[7] - Credit Karma revenue grew by 27% to $651 million, driven by strong performance in personal loans, credit cards, and auto insurance[10] - TurboTax revenue increased by 6% to $198 million, while ProTax revenue grew by 15% to $45 million[10] - The company expects full fiscal year 2026 revenue guidance of $20.997 billion to $21.186 billion, representing growth of approximately 12% to 13%[10] - The company expects revenue for the three months ending January 31, 2026, to be in the range of $4,519 million to $4,549 million[45] Income and Earnings - GAAP operating income increased to $534 million, a significant rise of 97%[3] - Non-GAAP diluted earnings per share reached $3.34, up 34% from the prior year[3] - GAAP net income for Fiscal 2026 Q1 was $446 million, while non-GAAP net income was $939 million[30] - GAAP diluted net income per share for Fiscal 2026 Q1 was $1.59, with non-GAAP diluted net income per share at $3.34[30] - Net income for the three months ended October 31, 2025, was $446 million, compared to $197 million for the same period in 2024, representing a 126% increase[41] - Projected operating income for the same period is estimated between $676 million and $691 million, with non-GAAP adjustments expected to bring it to $1,371 million to $1,386 million[45] - Diluted net income per share is forecasted to be between $1.76 and $1.81, with non-GAAP estimates ranging from $3.63 to $3.68[45] Cash Flow and Assets - Total cash provided by operating activities increased to $637 million, up from $362 million year-over-year, marking a 76% growth[41] - Net cash provided by investing activities was $1,198 million, a significant improvement from a net cash used of $188 million in the previous year[41] - Cash and cash equivalents increased from $2,884 million (July 31, 2025) to $3,506 million (October 31, 2025)[39] - Cash, cash equivalents, restricted cash, and restricted cash equivalents at the end of the period totaled $6,943 million, down from $8,034 million a year earlier[42] - The company reported a net change in funds receivable and amounts due to customers of $(3,160) million, compared to $1,672 million in the previous year[41] Liabilities and Assets Management - Total current assets decreased from $14,107 million (July 31, 2025) to $10,421 million (October 31, 2025)[39] - Total liabilities decreased from $17,248 million (July 31, 2025) to $13,869 million (October 31, 2025)[39] - Total assets decreased from $36,958 million (July 31, 2025) to $33,191 million (October 31, 2025)[39] Shareholder Returns and Compensation - Intuit plans to repurchase $4.4 billion worth of shares, having already repurchased $851 million[10] - A quarterly dividend of $1.20 per share was approved, marking a 15% increase compared to the same period last year[10] - Share-based compensation expense for Fiscal 2026 Q1 was $543 million[30] - Share-based compensation expense for the three months ended October 31, 2025, was $543 million, an increase from $511 million in the same period last year[41] Strategic Outlook - The company plans to continue focusing on strategic acquisitions and market expansion to drive future growth[45] - The company recognized a net loss of $34 million on debt securities and other investments during the three months ended October 31, 2025[30] - Income tax effects and adjustments for Fiscal 2026 Q1 amounted to $(182) million[30]