Intuit Q2 Earnings Surpass Estimates, Segment Revenues Rise

Core Insights - Intuit (INTU) reported second-quarter fiscal 2026 non-GAAP earnings per share (EPS) of $4.15, exceeding the Zacks Consensus Estimate of $3.66, with revenues of $4.65 billion also surpassing the estimate of $4.53 billion, reflecting a year-over-year increase of 25% in EPS and 17.4% in revenues [1][9] Revenue Performance - Service revenues increased by 19.2% year-over-year to $3.87 billion, surpassing the estimate of $3.77 billion [2] - Product and other revenues reached $779 million, up 9.1% from the prior-year quarter, exceeding the estimate of $755.9 million [2] - Global Business Solutions segment revenues rose 18.5% year-over-year to $3.16 billion, higher than the estimate of $3.11 billion [2] Segment Breakdown - Total Online Ecosystem revenues grew by 21.1% to $2.47 billion, exceeding the estimate of $2.45 billion [3] - Total Desktop Ecosystem revenues increased by 10.1% to $697 million, above the estimate of $659.3 million [3] - Consumer Group segment revenues rose 15.1% to $1.49 billion, surpassing the estimate of $1.42 billion [3] Specific Product Performance - Credit Karma revenues surged 23.2% to $616 million, above the estimate of $569.4 million [4] - TurboTax revenues increased by 11.7% to $581 million, exceeding the estimate of $566 million [4] - ProTax revenues grew by 6.6% to $290 million, above the estimate of $277.4 million [4] Financial Position - As of January 31, 2025, Intuit's cash and investments totaled $3.0 billion, down from $3.7 billion as of October 31, 2025, with a debt of $6.2 billion [5] - The company repurchased $961 million of stock in the fiscal second quarter, with $3.5 billion remaining on its share repurchase authorization [5] - A quarterly dividend of $1.20 per share was approved, to be paid on April 17, 2026 [5] Fiscal Year 2026 Outlook - Intuit expects fiscal 2026 revenues to be in the range of $20.997 billion to $21.186 billion, indicating approximately 12-13% growth [6] - Non-GAAP EPS for fiscal 2026 is projected to be between $22.98 and $23.18, reflecting an increase of approximately 14-15% [6] - Global Business Solutions segment revenues are expected to grow by 14-15% year-over-year, while Consumer Group revenues are anticipated to increase by 8-9% [7]