Quick Summary
- Intuit delivered adjusted EPS of $4.15, surpassing the $3.68 consensus, while revenue jumped 17% to $4.65 billion
- The company’s Q3 forecast disappointed: EPS of $12.45–$12.51 versus Street expectations of $12.97
- CEO Sasan Goodarzi positions AI as collaborative opportunity, highlighting new Anthropic partnership
- Shares declined approximately 4% in Friday premarket trading, adding to a nearly 40% year-to-date decline
- The company boosted its quarterly dividend to $1.20 per share, marking a 15% year-over-year increase
Intuit delivered second-quarter results that exceeded analyst projections, yet shares tumbled on underwhelming third-quarter projections.
Intuit, $INTU, Q2-26.
Execution firing on all cylinders.
📊 Adj. EPS: $4.15 🟢
💰 Revenue: $4.65B 🟢
📈 Net Income: $693MRevenue +17% YoY, operating income +44%.
Online Ecosystem +21% and margins expanding with strong EPS leverage. pic.twitter.com/xmIkBh2R0A— EarningsTime (@Earnings_Time) February 26, 2026
The financial software giant posted adjusted earnings of $4.15 per share, significantly surpassing analyst expectations of $3.68. Total revenue reached $4.65 billion, marking a 17% year-over-year increase and exceeding the consensus forecast of $4.53 billion.
The company’s adjusted operating income climbed 23% to reach $1.5 billion.
CEO Sasan Goodarzi characterized the performance as an “outstanding second quarter, driven by disciplined execution.”
However, the company’s third-quarter outlook — its most critical period coinciding with tax season — came in below Street expectations. Management projects adjusted EPS between $12.45 and $12.51, missing the consensus estimate of $12.97.
For Q3, revenue growth is anticipated at approximately 10% compared to last year, translating to roughly $4.36 billion — falling short of analyst projections of $4.53 billion.
Shares fell roughly 4% during Friday’s premarket session after finishing Thursday’s regular trading 3.5% higher.
Viewing AI as Opportunity, Not Threat
Intuit stock has plummeted nearly 40% year-to-date, primarily driven by market concerns that artificial intelligence could disrupt the tax and accounting software industry.
Goodarzi challenged this narrative. Speaking with Barron’s, he explained that taxpayers prefer working with trusted brands, and AI companies lack interest in assuming the legal responsibilities associated with tax filing services.
According to Goodarzi, companies like Anthropic and OpenAI “do not have, nor do they want to have, the capability” that Intuit has developed — emphasizing the significant time investment required to build such infrastructure.
The company unveiled a collaboration with Anthropic this week to deliver customized AI agents for mid-market enterprises using its platform. This follows a similar agreement announced earlier with OpenAI.
Jefferies analyst Brent Thill noted that Intuit’s impressive first-half results “makes reiterated FY26 guide look conservative” and maintained a Buy rating, observing that “INTU’s moat in AI remains misunderstood.”
Annual Projections Remain Unchanged
Intuit maintained its fiscal 2026 full-year guidance without revision. The company continues to project adjusted EPS between $22.98 and $23.18, representing approximately 14% to 15% growth.
Annual revenue guidance stays within the $21 billion to $21.2 billion range, suggesting 12% to 13% expansion.
Goodarzi emphasized that the company traditionally waits until after its critical third quarter before adjusting annual forecasts.
Wolfe Research’s Alex Zukin stated the results “reiterate our positive view on growth durability,” though he reduced his price target from $685 to $550 while keeping an Outperform rating.
William Blair analyst Arjun Bhatia described Intuit as a “mission-critical platform for small businesses” that is strategically positioning itself for the AI-driven future.
The company also announced a quarterly dividend of $1.20 per share, scheduled for payment on April 17, 2026 — representing a 15% increase compared to the prior year period.
