Intuit Beats Q2 Expectations but Q3 Guidance Disappoints

Core Viewpoint - Intuit reported stronger-than-expected fiscal second-quarter results, but its guidance for the upcoming quarter fell short of analyst forecasts, leading to a decline in shares during premarket trading [1]. Financial Performance - Adjusted earnings per share for the second quarter were $4.15, surpassing the consensus estimate of $3.68 [1]. - Revenue increased by 17% year over year to $4.7 billion, exceeding the consensus forecast of $4.53 billion [2]. - Adjusted operating income rose by 23% to $1.5 billion [2]. - Revenue for the comparable quarter last year was $3.96 billion [3]. Future Guidance - For the third quarter of fiscal 2026, Intuit projected adjusted earnings per share between $12.45 and $12.51, which is below the consensus estimate of $12.97 [2]. - The company expects third-quarter revenue growth of approximately 10%, implying revenue of about $4.36 billion, which is below analyst expectations of $4.53 billion [3]. Strategic Initiatives - Intuit has expanded its artificial intelligence initiatives, including a partnership with Anthropic to deploy customizable AI agents for mid-market businesses [2].