Intuit reported a strong Q2 with revenue up 17%, driven by AI and human intelligence integration across its platform. The company highlighted significant wins in the mid-market and assisted tax segments, and announced partnerships with OpenAI and Anthropic to extend its reach. Total company revenue grew 17% to $4.7 billion, with double-digit growth across all segments.
Intuit reported a strong Q2 with revenue up 17%, driven by AI and human intelligence integration across its platform. The company highlighted significant wins in the mid-market and assisted tax segments, and announced partnerships with OpenAI and Anthropic to extend its reach. Total company revenue grew 17% to $4.7 billion, with double-digit growth across all segments.
Management emphasizes AI and HI (human intelligence) as core differentiators in a regulated, high-stakes financial environment, driving done-for-you experiences and monetization through subscription pricing and consumption. They highlight strong customer adoption of AI agents…
Management emphasizes AI and HI (human intelligence) as core differentiators in a regulated, high-stakes financial environment, driving done-for-you experiences and monetization through subscription pricing and consumption. They highlight strong customer adoption of AI agents…
Management emphasizes AI and HI (human intelligence) as core differentiators in a regulated, high-stakes financial environment, driving done-for-you experiences and monetization through subscription pricing and consumption. They highlight strong customer adoption of AI agents…
TurboTax revenue grew 12% despite a 5% decline in IRS returns, driven by strong adoption of AI-driven features.
Management emphasizes AI and HI (human intelligence) as core differentiators in a regulated, high-stakes financial environment, driving done-for-you experiences and monetization through subscription pricing and consumption. They highlight strong customer adoption of AI agents (e.g., 3 million customers, 85% repeat engagement) and strategic partnerships with OpenAI and Anthropic that keep data prop
QuickBooks Live customer growth exceeds 50% in Q2. Management expresses strong confidence in strategy and momentum, citing robust growth, margin expansion, and successful AI-driven initiatives, while addressing potential investor concerns with assured data moats and partnerships.
Management expresses strong confidence in strategy and momentum, citing robust growth, margin expansion, and successful AI-driven initiatives, while addressing potential investor concerns with assured data moats and partnerships.
“Our business tax agent is putting more money directly back into our customers' pockets, uncovering an average of over $1,000 in incremental tax deductions”
“What we're seeing in our test results will actually drive consumption of payments, consumption of payroll, and actually consumption of more expert services.”
| Metric | Period | Range | Midpoint | Status |
|---|---|---|---|---|
| Revenue | FY2026 | $20.997B–$21.186B | $21.0915B | MAINTAINED |
| Issued | Metric | Target | Guide | Actual | Outcome |
|---|---|---|---|---|---|
| FY2026 Q1 | EPS | FY2026 Q2 | $3.63–$3.68 | $4.15 | Met / beat |
Intuit is expanding its distribution through OpenAI's ChatGPT app directory, giving OpenAI a foothold in financial services workflows. This suggests OpenAI is seeking to embed itself as the interface layer for high-stakes enterprise functions.
“Earlier this month, we launched all four of our apps in OpenAI's app directory”
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… contributing to our company margin expansion, all fueled by AI and HI. Our platform has become a service that delivers peace of mind, certainty, and confidence. Zooming out, we're helping shape the future of financial intelligence by working with leading AI companies to meet consumers and businesses wherever they choose to work and get work done. These companies partner with Intuit because in a high-stakes regulated environment where customers face significant liability if they get it wrong, they demand more than generic LLM recommendations. They require intelligence that is personalized, accurate, compliant, reliable, secure, and drives real action on their behalf. In our category of one, it's all about customer confidence and financial decisions, and the combination of data, AI, and human expertise is essential to success. That's why we have built a system of intelligence with APIs and MCP that spans a customer's financial life across their apps and data and is not confined to any one system. Our platform is designed to transcend and orchestrate across any system or app, so whether the data fits with Intuit or elsewhere, we can connect it, interpret it, and help customers act with confidence. Earlier this month, we launched all four of our apps in OpenAI's app directory, and this week we announced a multi-year, game-changing partnership with Entropic to advance highly personalized experiences for consumers and businesses. Powered by Intuit's decade of deep domain expertise and proprietary data models, The Intuit platform will become the foundation where businesses can build and customize secure, accurate, compliant AI agents for a long tail of industry-specific needs using Anthropix Cloud Agent Builder. Intuit will also bring personalized tax, finance, accounting, and marketing capabilities to millions of cloud and core work users. Our AI-driven expert platform strategy is unlocking our TAM as evidenced by strong first-half revenue growth of 18%. As a category of one leader, we provide the trusted foundation for high-stakes financial decisions, delivering the reliability, accuracy, security, compliance, and privacy our customers rely on to act with confidence. This is the next chapter of Intuit, service as software, built on data, AI, and HI, delivering double-digit revenue growth with expanding margins. Now let me turn it over to Sandeep. Thanks, Sasan.
Intuit is deepening its channel partnerships with top accounting firms, which could expand its reach but also signals a reliance on third-party experts to drive adoption in the mid-market.
“This quarter, we signed partnerships with several top 20 accounting firms eager to build reseller practices, including Citron Cooperman and Eddie Bailey.”
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… insights. By automating hundreds of intercompany invoices, they've reduced peak month-end reconciliation time by approximately 90% and reclaimed 16 to 18 hours of accounting work per week, shifting their team from manual cleanup to real analysis. Because IES offers multidimensional tracking across departments, locations, projects, and product lines, LeLear now has the accurate P&Ls for each division with the visibility to support their goal of tripling revenue over the next three years. Shifting to go to market, we're excited to expand our direct sales team by approximately 30% as we're seeing seller productivity continue to increase. New IES contracts grew nearly 50% quarter over quarter with a meaningful acceleration in new customers added to the franchise, underscoring the significant headroom we have for IES beyond fueling expansion within our base. We're also seeing continued momentum with our accountant partnerships. This quarter, we signed partnerships with several top 20 accounting firms eager to build reseller practices, including Citron Cooperman and Eddie Bailey. The progress we are making with our early accounting partners, supported in part by the launch of new wholesale billing capabilities, drove accelerated growth with nearly a third of new contracts influenced by accountants' recommendations in Q2, 10 points higher than Q1. We continue to make progress with Intuit Accountant Suite, an AI-native offering that transforms accounting firms' efficiency and effectiveness in managing their clients, firm, and workforce. This platform significantly deepens our partnership with accountants and encourages them to migrate clients to QBO Advanced and Intuit Enterprise Suite, fueling faster mid-market penetration. We're seeing strong initial adoption and feedback, particularly around the incremental value firms are getting by managing their operations and gaining valuable insights all in one place. Turning to our consumer platform, our strategy is to win as an all-in-one AI-driven expert platform in service of building credit to wealth year-round. While overall IRF returns were down more than five points through February 6th, we delivered 12% TurboTax revenue growth this quarter. Two strategic areas are standouts that contribute to our momentum, winning in the assisted segment and the outsized role Credit Karma is playing to accelerate tax growth. …
Intuit is partnering with Anthropic to integrate Claude into its platform, positioning Anthropic as a key supplier of frontier models for Intuit's tax and accounting workflows. This validates Anthropic's enterprise momentum but also highlights the risk of commoditization for Intuit's own AI stack.
“this week we announced a multi-year, game-changing partnership with Entropic to advance highly personalized experiences for consumers and businesses.”
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… contributing to our company margin expansion, all fueled by AI and HI. Our platform has become a service that delivers peace of mind, certainty, and confidence. Zooming out, we're helping shape the future of financial intelligence by working with leading AI companies to meet consumers and businesses wherever they choose to work and get work done. These companies partner with Intuit because in a high-stakes regulated environment where customers face significant liability if they get it wrong, they demand more than generic LLM recommendations. They require intelligence that is personalized, accurate, compliant, reliable, secure, and drives real action on their behalf. In our category of one, it's all about customer confidence and financial decisions, and the combination of data, AI, and human expertise is essential to success. That's why we have built a system of intelligence with APIs and MCP that spans a customer's financial life across their apps and data and is not confined to any one system. Our platform is designed to transcend and orchestrate across any system or app, so whether the data fits with Intuit or elsewhere, we can connect it, interpret it, and help customers act with confidence. Earlier this month, we launched all four of our apps in OpenAI's app directory, and this week we announced a multi-year, game-changing partnership with Entropic to advance highly personalized experiences for consumers and businesses. Powered by Intuit's decade of deep domain expertise and proprietary data models, The Intuit platform will become the foundation where businesses can build and customize secure, accurate, compliant AI agents for a long tail of industry-specific needs using Anthropix Cloud Agent Builder. Intuit will also bring personalized tax, finance, accounting, and marketing capabilities to millions of cloud and core work users. Our AI-driven expert platform strategy is unlocking our TAM as evidenced by strong first-half revenue growth of 18%. As a category of one leader, we provide the trusted foundation for high-stakes financial decisions, delivering the reliability, accuracy, security, compliance, and privacy our customers rely on to act with confidence. This is the next chapter of Intuit, service as software, built on data, AI, and HI, delivering double-digit revenue growth with expanding margins. Now let me turn it over to Sandeep. Thanks, Sasan.