OpenNashEarnings

Intuit (INTU) · Software

Intuit Q3 FY2026 earnings: summary, key numbers & outlook

Results filed 20 May 2026 · Quarter ended 30 Apr 2026

Press release ↗Investor relations ↗

Summaries and transcripts are machine-generated and can contain errors.

In brief

Intuit grew total revenue to $8.6 billion, up 10 percent, and increased GAAP diluted earnings per share to $11.09, up 11 percent, and non-GAAP diluted earnings per share to $12.80, up 10 percent.

Intuit's third quarter, which ended April 30, 2026, brought $8.6 billion in revenue, up 10 percent. Consumer revenue grew 8 percent, led by TurboTax at $4.4 billion and Credit Karma at $631 million. Global Business Solutions grew 15 percent to $3.3 billion, and its Online Ecosystem revenue grew 19 percent. GAAP diluted earnings per share were $11.09 and non-GAAP were $12.80. The company also repurchased $1.6 billion of stock and announced a new $8 billion repurchase authorization.

Management raised full-year fiscal 2026 revenue guidance to $21.341 billion to $21.374 billion. It also guided fourth-quarter revenue growth of approximately 11 to 12 percent. Alongside the results, Intuit said it is cutting its full-time workforce by 17 percent. It expects about $300 million to $340 million of restructuring charges, mostly in the fourth quarter. The main tension is whether a leaner organization can speed up growth while TurboTax Online units fall about 2 percent and the company reduces investment in Mailchimp.

Key numbers

Total revenue · GAAP
$8.6 billion

up 10 percent

Net income · GAAP
$3.1B

Diluted EPS (GAAP) · GAAP
$11.09

up 11 percent

Diluted EPS (non-GAAP) · non-GAAP
$12.80

up 10 percent

Operating income (GAAP) · GAAP
$4.0 billion

up 8 percent

Operating income (non-GAAP) · non-GAAP
$4.7 billion

up 8 percent

Segment or metricValueChange
Consumer revenue$5.3 billionup 8 percent
TurboTax revenue$4.4 billionup 7 percent
Credit Karma revenue$631 millionup 15 percent
ProTax revenue$278 millionflat
Global Business Solutions revenue$3.3 billionup 15 percent
Online Ecosystem revenue$2.5 billionup 19 percent
QuickBooks Online Accounting revenue22 percentgrowth in the quarter
Online Services revenue15 percentgrowth in the quarter
Where each number comes from
  • Total revenue: “Grew total revenue to $8.6 billion, up 10 percent. •Grew Consumer revenue to $5.3 billion, up 8 percent. Increased TurboTax revenue to $4.4 billion, up 7 percent”
  • Net income: “Income tax provision [B] | 983 | 864 | 1,274 | 980 Net income | $3,064 | $2,820 | $4,203 | $3,488 Basic net income per share”
  • Diluted EPS (GAAP): “Increased GAAP diluted earnings per share to $11.09, up 11 percent. •Grew non-GAAP diluted earnings per share to $12.80, up 10 percent.”
  • Diluted EPS (non-GAAP): “Increased GAAP diluted earnings per share to $11.09, up 11 percent. •Grew non-GAAP diluted earnings per share to $12.80, up 10 percent.”
  • Operating income (GAAP): “Increased GAAP operating income to $4.0 billion, up 8 percent. •Grew non-GAAP operating income to $4.7 billion, up 8 percent.”
  • Operating income (non-GAAP): “Increased GAAP operating income to $4.0 billion, up 8 percent. •Grew non-GAAP operating income to $4.7 billion, up 8 percent.”
  • Consumer revenue: “Consumer revenue of $5.3 billion was up 8 percent in the quarter. •TurboTax revenue grew 7 percent to $4.4 billion.”
  • TurboTax revenue: “Consumer revenue of $5.3 billion was up 8 percent in the quarter. •TurboTax revenue grew 7 percent to $4.4 billion.”
  • Credit Karma revenue: “Credit Karma revenue grew 15 percent to $631 million, driven by strength in personal loans, auto insurance, and home loans.”
  • ProTax revenue: “ProTax revenue was flat year-over-year at $278 million.”
  • Global Business Solutions revenue: “Global Business Solutions revenue grew to $3.3 billion, up 15 percent, and Online Ecosystem revenue increased to $2.5 billion, up 19 percent.”
  • Online Ecosystem revenue: “Global Business Solutions revenue grew to $3.3 billion, up 15 percent, and Online Ecosystem revenue increased to $2.5 billion, up 19 percent.”
  • QuickBooks Online Accounting revenue: “QuickBooks Online Accounting revenue grew 22 percent in the quarter, driven by higher effective prices, customer growth, and mix-shift.”
  • Online Services revenue: “Online Services revenue grew 15 percent, driven by growth in money and payroll offerings.”

Copied from the press release ↗ and other documents in the SEC filing ↗. A figure is published only if its sentence is in the filing.

From the filingQ3 FY2026vs year agovs last quarter
Revenue$8.6B+10.4%+84.0%
Operating income$4.0B+8.1%+370.2%
Net income$3.1B+8.7%+342.1%
Diluted EPS$11.09+10.7%+347.2%
Free cash flow$5.2B+20.1%+243.6%
Operating margin47.0%−1.0 pts+28.6 pts

Calculated by code from XBRL, not by the model.

Outlook

MetricPeriodOutlook
Revenue growthfourth quarter of fiscal year 2026approximately 11 to 12 percent
GAAP diluted EPSfourth quarter of fiscal year 2026$0.73 to $0.79
Non-GAAP diluted EPSfourth quarter of fiscal year 2026$3.56 to $3.62
Revenuefiscal 2026$21.341 billion to $21.374 billion
GAAP operating incomefiscal 2026$5.705 billion to $5.725 billion
Non-GAAP operating incomefiscal 2026$8.784 billion to $8.804 billion
GAAP diluted EPSfiscal 2026$15.79 to $15.84
Non-GAAP diluted EPSfiscal 2026$23.80 to $23.85
Global Business Solutions revenue growthfiscal 2026approximately 16 percent
Consumer revenue growthfiscal 2026approximately 10 percent
Restructuring chargesfourth quarter of fiscal 2026$300 million to $340 million

Key takeaways

  1. Revenue grew 10 percent to $8.6 billion

    Total revenue reached $8.6 billion, up 10 percent, with GAAP diluted EPS of $11.09 and non-GAAP diluted EPS of $12.80.

  2. Business solutions outgrew the consumer segment

    Global Business Solutions revenue rose 15 percent to $3.3 billion and Online Ecosystem revenue rose 19 percent. Consumer revenue grew 8 percent to $5.3 billion.

  3. Full-year revenue guidance was raised

    Intuit now expects fiscal 2026 revenue of $21.341 billion to $21.374 billion, growth of approximately 13 to 14 percent. Fourth-quarter revenue growth is guided at approximately 11 to 12 percent.

  4. Intuit is cutting 17 percent of its workforce

    The company is reducing its full-time workforce by 17 percent and expects approximately $300 million to $340 million in restructuring charges. It is also reducing investments in Mailchimp.

  5. TurboTax revenue rose while units declined

    TurboTax revenue grew 7 percent to $4.4 billion, but Intuit expects total TurboTax Online units to decline approximately 2 percent. It expects ARPU to increase approximately 11 percent.

Charts

Revenue$8.6B+10.4% y/yQ3 FY26
Q1 FY25: $3.3BQ1 25$3.3BQ2 FY25: $4.0BQ2 25$4.0BQ3 FY25: $7.8BQ3 25$7.8BQ4 FY25: $3.8B (worked out from the annual figure)Q4 25$3.8BQ1 FY26: $3.9BQ1 26$3.9BQ2 FY26: $4.7BQ2 26$4.7BQ3 FY26: $8.6BQ3 26$8.6BQ4 FY26: $4.4B (worked out from the annual figure)Q4 26$4.4B

Fourth quarter worked out from the annual figure.

Data
Q1 FY25$3.3B
Q2 FY25$4.0B
Q3 FY25$7.8B
Q4 FY25$3.8B *
Q1 FY26$3.9B
Q2 FY26$4.7B
Q3 FY26$8.6B
Q4 FY26$4.4B *
Diluted EPS (GAAP)$11.09+10.7% y/yQ3 FY26
Q1 FY25: $0.70Q1 25$0.70Q2 FY25: $1.67Q2 25$1.67Q3 FY25: $10.02Q3 25$10.02Q1 FY26: $1.59Q1 26$1.59Q2 FY26: $2.48Q2 26$2.48Q3 FY26: $11.09Q3 26$11.09
Data
Q1 FY25$0.70
Q2 FY25$1.67
Q3 FY25$10.02
Q1 FY26$1.59
Q2 FY26$2.48
Q3 FY26$11.09

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin47.0%−1.0 pts y/yQ3 FY26
Q1 FY25: 8.3%Q1 258.3%Q2 FY25: 15.0%Q2 2515.0%Q3 FY25: 48.0%Q3 2548.0%Q4 FY25: 8.8%Q4 258.8%Q1 FY26: 13.7%Q1 2613.7%Q2 FY26: 18.4%Q2 2618.4%Q3 FY26: 47.0%Q3 2647.0%Q4 FY26: 10.9%Q4 2610.9%
Data
Q1 FY258.3%
Q2 FY2515.0%
Q3 FY2548.0%
Q4 FY258.8%
Q1 FY2613.7%
Q2 FY2618.4%
Q3 FY2647.0%
Q4 FY2610.9%
Free cash flow$5.2B+20.1% y/yQ3 FY26
Q1 FY25: $329.0MQ1 25$329.0MQ2 FY25: $1.0BQ2 25$1.0BQ3 FY25: $4.4BQ3 25$4.4BQ4 FY25: $396.0MQ4 25$396.0MQ1 FY26: $599.0MQ1 26$599.0MQ2 FY26: $1.5BQ2 26$1.5BQ3 FY26: $5.2BQ3 26$5.2BQ4 FY26: $1.3BQ4 26$1.3B
Data
Q1 FY25$329.0M
Q2 FY25$1.0B
Q3 FY25$4.4B
Q4 FY25$396.0M
Q1 FY26$599.0M
Q2 FY26$1.5B
Q3 FY26$5.2B
Q4 FY26$1.3B

Operating cash flow minus capital expenditure, from cash flow statements.

Questions

What were Intuit's third-quarter fiscal 2026 results?

Revenue was $8.6 billion, up 10 percent, with GAAP diluted EPS of $11.09 (up 11 percent) and non-GAAP diluted EPS of $12.80 (up 10 percent). GAAP operating income was $4.0 billion, up 8 percent.

What is Intuit's guidance for fiscal 2026?

Intuit raised full-year revenue guidance to $21.341 billion to $21.374 billion, growth of approximately 13 to 14 percent. It guided non-GAAP diluted EPS of $23.80 to $23.85 and GAAP diluted EPS of $15.79 to $15.84.

What is Intuit's fourth-quarter outlook?

Intuit expects fourth-quarter revenue growth of approximately 11 to 12 percent. It guided GAAP diluted EPS of $0.73 to $0.79 and non-GAAP diluted EPS of $3.56 to $3.62.

Why is Intuit laying off employees?

Intuit is reducing its full-time workforce by 17 percent to simplify its structure and become faster, leaner and more focused. It expects approximately $300 million to $340 million in restructuring charges, largely in the fourth quarter.

How did Intuit's business segments perform?

Consumer revenue grew 8 percent to $5.3 billion, including TurboTax at $4.4 billion (up 7 percent) and Credit Karma at $631 million (up 15 percent). Global Business Solutions grew 15 percent to $3.3 billion, with Online Ecosystem revenue up 19 percent.

Documents

SEC filing