Intuit Inc (NASDAQ:INTU, XETRA:ITU) the financial technology company behind TurboTax, QuickBooks, Credit Karma, and Mailchimp, reported a strong start to fiscal 2026, surpassing Wall Street expectations across revenue and earnings.
Shares of Intuit moved higher afterhours on the update, adding 3% at about $657.
For fiscal Q1, which ended on October 31, Intuit posted revenue of $3.9 billion, up 18% year-over-year and ahead of analysts’ estimate of $3.76 billion.
Adjusted earnings per share (EPS) came in at $3.34, beating the Street’s forecast of $3.09.
The company’s Global Business Solutions segment, which includes QuickBooks and Mailchimp, generated $3 billion in revenue, up 18%, with Online Ecosystem revenue climbing 21% to $2.4 billion. Excluding Mailchimp, growth was even stronger, with Global Business Solutions revenue up 20% and Online Ecosystem revenue up 25%.
QuickBooks Online revenue rose 25%, fueled by higher effective prices, new customer growth, and favorable product mix, while Online Services revenue increased 17% on strength in money and payroll offerings. International online revenue grew 9% on a constant currency basis.
Intuit’s consumer segment also performed well, with revenue of $894 million, up 21% from the prior year.
Credit Karma led the growth with a 27% increase to $651 million, driven by strong demand for personal loans, credit cards, and auto insurance. TurboTax revenue rose 6% to $198 million, and ProTax revenue increased 15% to $45 million.
"We delivered an exceptional first quarter as we continue to execute on our AI-driven expert platform strategy,” Intuit CEO Sasan Goodarzi said in a statement.
“Intuit is creating a system of intelligence, leveraging data, data services, AI, and human intelligence to fuel the success of consumers, small and mid-market businesses, and accountants.”
Looking ahead, Intuit reiterated its full-year fiscal 2026 guidance, expecting revenue of $20.997 billion to $21.186 billion, representing growth of 12 to 13%. Adjusted EPS is expected to range from $15.49 to $15.69.