Intuit Inc. (INTU) just proved that its bet on artificial intelligence is starting to pay off. The software giant behind QuickBooks, TurboTax, and Credit Karma reported first-quarter fiscal 2026 results Thursday after the close that handily beat Wall Street's expectations.
The Numbers That Matter: Revenue came in at roughly $3.89 billion, cruising past analyst estimates of $3.76 billion. Adjusted earnings hit $3.34 per share, comfortably ahead of the $3.09 consensus, according to Benzinga Pro.
Total revenue climbed 18% compared to the same quarter last year. Here's how the different parts of the business performed:
- Global Business Solutions: $3 billion, up 18%
- Consumer: $894 million, up 21%
- Total Online Ecosystem: $2.4 billion, up 21%
The company closed the quarter with $3.7 billion in cash and investments against $6.1 billion in debt.
The AI Angle: CEO Sasan Goodarzi made it clear that artificial intelligence isn't just marketing speak for Intuit. "We delivered an exceptional first quarter as we continue to execute on our AI-driven expert platform strategy," he said. "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."
Capital Allocation: Intuit put $851 million toward share buybacks during the quarter, leaving $4.4 billion remaining under its repurchase authorization. The board also approved a quarterly dividend of $1.20 per share, payable January 16, 2026.
Looking Ahead: For the second quarter, management expects revenue growth of approximately 14% to 15%, with adjusted earnings between $3.63 and $3.68 per share. That earnings guidance sits below the analyst consensus of $3.83 per share.
For the full fiscal 2026, Intuit maintains its revenue outlook of $21 billion to $21.19 billion versus estimates of $21.16 billion. Full-year adjusted earnings are still expected to land between $22.98 and $23.18 per share, matching the high end of analyst expectations at $23.18.
Market Reaction: Investors seemed pleased with the results. Intuit shares gained 2.76% in after-hours trading, reaching $655.01 at the time of publication Thursday.
