Intuit Q4 Earnings Call Highlights

Intuit reported 14% revenue growth, 20% diluted EPS growth and expanding operating margins for fiscal 2026. Its assisted tax, money and mid-market “big bets” grew 34% and represented 30% of full-year revenue. Slower growth in QuickBooks and TurboTax customers is prompting investments in QuickBooks Free and Lite, mid-market expansion and lower-priced TurboTax offerings. Intuit also plans to use AI, broader distribution and cross-selling with Credit Karma to improve retention and lifetime value. Fiscal 2027 guidance signals near-term moderation, with revenue expected to grow 9%–10% to $23.279 billion–$23.512 billion, and TurboTax growth projected at just 2%–3% as the company lowers entry-level pricing. Intuit repurchased $5.5 billion of stock in fiscal 2026 and raised its quarterly dividend 15% to $1.38 per share.

Intuit NASDAQ: INTU reported fiscal 2026 revenue growth of 14% and said it is shifting investment and execution in fiscal 2027 toward acquiring more new customers, after results showed slower growth in parts of its QuickBooks and TurboTax businesses. For the full year, GAAP and non-GAAP diluted earnings per share each increased 20%, while the company again expanded operating margin. Intuit’s “big bets” in assisted tax, money and mid-market collectively grew 34% and accounted for 30% of full-year revenue, Chief Executive Officer Sasan Goodarzi said.

“Our results highlighted areas where we need to further evolve,” Goodarzi said, pointing specifically to the need to grow new customers faster in key parts of the business. The company is broadening its focus from scaling services for its existing customer base to also increasing new-to-the-franchise acquisition and market share.

Fourth-quarter revenue was $4.4 billion, up 14% year over year. GAAP operating income was $475 million, compared with $339 million a year earlier, while non-GAAP operating income rose 43% to $1.4 billion. GAAP diluted earnings per share was $1.34, compared with $1.35 in the prior-year quarter, and non-GAAP diluted EPS rose 47% to $4.03.

Global Business Solutions revenue increased 16% for fiscal 2026. Excluding Mailchimp, the segment grew 18% for the full year and 15% in the fourth quarter. Online ecosystem revenue excluding Mailchimp rose 23% for the year and 20% in the fourth quarter. QuickBooks Online Advanced and Intuit Enterprise Suite online ecosystem revenue grew 38% in the fourth quarter, while online ecosystem revenue for small businesses and the rest of the customer base rose 14%. QuickBooks Online Accounting revenue increased 20% in the quarter and 23% for the year. Online services revenue grew 15% in the fourth quarter, or 21% excluding Mailchimp, driven by Money and Payroll offerings. Total online payment volume, including Bill Pay, rose 32% in the quarter and 30% for the year to more than $225 billion. QuickBooks Capital loan volume increased 54% to $1.9 billion in the fourth quarter.

However, total online paying customers grew 3% at the end of fiscal 2026, about two percentage points slower than the prior year, according to Goodarzi. U.S. QuickBooks Online customers grew 6%, excluding self-employed customers.

Intuit plans to widen the entry point to its business platform through QuickBooks Free and QuickBooks Lite. Goodarzi said that, as of the prior month, more than 20,000 customers were actively using QuickBooks Free or had converted to paid offering.