Intuit expects quarterly revenue growth above estimates on strong financial tools demand

Intuit forecast second-quarter revenue growth above Wall Street estimates on Thursday, a sign of growing demand for its artificial intelligence-powered financial management tools.

Shares of the company rose around 3 per cent in extended trading.

The company, which offers products such as tax-preparation software TurboTax, finance portal Credit Karma and accounting tool QuickBooks, is benefiting as customers increasingly seek personalized financial guidance and automated solutions for tasks such as bookkeeping.

On Tuesday, Intuit signed a multi-year deal worth more than $100 million with OpenAI to use the ChatGPT maker's AI models to power the company's AI agents.

Subscribe to our Chief Editor’s Week in Review

Our chief editor shares analysis and picks of the week's biggest news every Saturday.

This service is not intended for persons residing in the E.U. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp’s partners.

Loading

The integration of Intuit apps within ChatGPT will involve "no revenue share", and customer data privacy and security principles will remain unchanged, CEO Sasan Goodarzi said on the post-earnings call.

Earlier in the day, the company named ServiceNow CEO Bill McDermott and Nasdaq CEO Adena Friedman to its board, effective August 2026, while Goodarzi is set to become board chair on January 22, 2026.

Intuit forecast revenue growth of about 14 per cent to 15 per cent for the second quarter ending January 31, above analysts' average estimate of 12.8 per cent growth, according to data compiled by LSEG.

However, its adjusted earnings per share outlook of $3.63 to $3.68 for the quarter fell short of the estimated $3.83.

Revenue for the first quarter rose 18 per cent to $3.89 billion, handily beating estimates of $3.76 billion.

Adjusted EPS of $3.34 also exceeded estimates of $3.09 for the quarter ended October 31.

"We are confident in delivering double-digit revenue growth and expanding margin this year, and we are reiterating our full-year guidance for fiscal 2026," finance chief Sandeep Aujla said.

The board also approved a quarterly dividend of $1.20 per share, a 15 per cent increase from a year ago.