Intuit Inc. (INTU) Q2 2026 Financial Results Summary

Release Date: February 26, 2026

Intuit Inc. (Nasdaq: INTU) has reported its financial results for the second quarter of fiscal 2026, which ended on January 31, 2026. Here are the key highlights from the report:

Financial Highlights

• Total Revenue: Grew to $4.7 billion, an increase of 17% compared to the same quarter last year.
• Global Business Solutions Revenue: Increased to $3.2 billion, marking an 18% growth; Online Ecosystem revenue rose to $2.5 billion, a jump of 21%.
• Excluding Mailchimp:
  • Global Business Solutions revenue growth at 21%.
  • Online Ecosystem revenue growth at 25%.
• Consumer Revenue: Reached $1.5 billion, up 15%.
  • Credit Karma Revenue: Increased to $616 million, representing a 23% growth.
  • TurboTax Revenue: Rose to $581 million, a 12% increase.
• GAAP Operating Income: Reported at $855 million, which is a 44% increase.
• Non-GAAP Operating Income: Increased to $1.5 billion, up 23%.
• GAAP Diluted Earnings Per Share: Rose to $2.48, up 49%.
• Non-GAAP Diluted Earnings Per Share: Increased to $4.15, up 25%.

Snapshot of Second-quarter Results

Note: All amounts are in millions.

Metric	Q2 FY26	Q2 FY25	Change
Revenue	$4,651M	$3,963M	17%
GAAP Operating Income	$855M	$593M	44%
GAAP Diluted Earnings Per Share	$2.48	$1.67	49%
Non-GAAP Operating Income	$1,549M	$1,260M	23%
Non-GAAP Diluted Earnings Per Share	$4.15	$3.32	25%

Business Segment Results

• Global Business Solutions:
  • Revenue: Increased by 18% to $3.2 billion.
  • QuickBooks Online Accounting Revenue: Grew by 24%.
  • Online Services Revenue: Increased by 18% due to growth in money and payroll offerings.
  • International Online Revenue: Grew by 9% on a constant currency basis.
• Consumer Segment:
  • Revenue remained at $1.5 billion, reflecting a 15% growth.
  • ProTax Revenue: Increased by 7% to $290 million.

Capital Allocation Summary

• Cash and Investments Balance: Approximately $3.0 billion.
• Debt: Total debt stood at $6.2 billion.
• Share Repurchase Activity: Intuit repurchased $961 million of its stock, with $3.5 billion remaining under its share repurchase authorization.
• Dividends:
  • A quarterly dividend of $1.20 per share was declared, which is a 15% increase compared to the same period last year and will be payable on April 17, 2026.

Forward-looking Guidance

Intuit reiterated its guidance for the full fiscal year 2026 with the following expectations:

• Revenue: $20.997 billion to $21.186 billion, indicating a growth of approximately 12-13%.
• GAAP Operating Income: Projected between $5.782 billion to $5.859 billion, an approximate growth of 17-19%.
• Non-GAAP Operating Income: Projected between $8.611 billion to $8.688 billion, a growth of approximately 14-15%.
• GAAP Diluted EPS: Expected in the range of $15.49 to $15.69, showing a growth of approximately 13-15%.
• Quarter 3 Expectations: Revenue growth around 10% with GAAP diluted EPS projected between $10.56 to $10.62.

Conference Call Details

Intuit executives will discuss the financial results on a conference call scheduled for 1:30 p.m. Pacific Time on February 26, 2026. The call will be accessible live through Intuit's investor relations page.

This summary reflects the company's robust performance in the second quarter, driven by substantial growth across various segments, strategic capital allocation, and a reiteration of full-year guidance.

GAAP CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share amounts)

Note: All amounts are in millions.

Three Months Ended	January 31, 2026	January 31, 2025
Net revenue:
Service	$ 3,872	$ 3,249
Product and other	$ 779	$ 714
Total net revenue	$ 4,651	$ 3,963
Costs and expenses:
Cost of revenue:
Cost of service revenue	$ 981	$ 880
Cost of product and other revenue	$ 18	$ 20
Amortization of acquired technology	$ 44	$ 37
Selling and marketing	$ 1,395	$ 1,204
Research and development	$ 836	$ 716
General and administrative	$ 401	$ 389
Amortization of other acquired intangible assets	$ 121	$ 120
Restructuring	$ —	$ 4
Total costs and expenses [A]	$ 3,796	$ 3,370
Operating income	$ 855	$ 593
Interest expense	$ -58	$ -60
Interest and other income, net	$ 72	$ 38
Income before income taxes	$ 869	$ 571
Income tax provision [B]	$ 176	$ 100
Net income	$ 693	$ 471
Basic net income per share	$ 2.49	$ 1.68
Shares used in basic per share calculations	278	280
Diluted net income per share	$ 2.48	$ 1.67
Shares used in diluted per share calculations	280	283

CONDENSED CONSOLIDATED BALANCE SHEETS (In millions)

Note: All amounts are in millions.

January 31, 2026	July 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$ 2,942	$ 2,884
Investments	$ 33	$ 1,668
Accounts receivable, net	$ 1,175	$ 530
Notes receivable held for investment	$ 1,699	$ 1,403
Notes receivable held for sale	$ 117	$ —
Income taxes receivable	$ 84	$ 50
Prepaid expenses and other current assets	$ 1,239	$ 496
Current assets before funds receivable and amounts held for customers	$ 7,289	$ 7,031
Funds receivable and amounts held for customers	$ 4,414	$ 7,076
Total current assets	$ 11,703	$ 14,107
Long-term investments	$ 127	$ 94
Property and equipment, net	$ 974	$ 961
Operating lease right-of-use assets	$ 593	$ 541
Goodwill	$ 13,983	$ 13,980
Acquired intangible assets, net	$ 4,971	$ 5,302
Long-term deferred income tax assets	$ 1,106	$ 1,222
Other assets	$ 825	$ 751
Total assets	$ 34,282	$ 36,958
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term debt	$ 749	$ —
Accounts payable	$ 946	$ 792
Accrued compensation and related liabilities	$ 702	$ 858
Deferred revenue	$ 1,141	$ 1,019
Income taxes payable	$ 82	$ 3
Other current liabilities	$ 810	$ 622
Current liabilities before funds payable and amounts due to customers	$ 4,430	$ 3,294
Funds payable and amounts due to customers	$ 4,414	$ 7,076
Total current liabilities	$ 8,844	$ 10,370
Long-term debt	$ 5,411	$ 5,973
Operating lease liabilities	$ 646	$ 597
Other long-term obligations	$ 326	$ 308
Total liabilities	$ 15,227	$ 17,248
Stockholders’ equity	$ 19,055	$ 19,710
Total liabilities and stockholders’ equity	$ 34,282	$ 36,958

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