Intuit (INTU) Q2 2025 earnings summary

Executive summary

• Q2 FY25 revenue rose 17% year-over-year to $4.0 billion, driven by strong performance in Global Business Solutions and Credit Karma, with robust momentum in tax and business platforms and AI-powered solutions fueling growth.

• GAAP operating income increased 61% to $593 million; non-GAAP operating income was $1.3 billion, up 26%.

• GAAP diluted EPS was $1.67, up 34%; non-GAAP diluted EPS was $3.32, up 26%.

• AI-driven experiences and automation are fueling customer success across consumer, small business, and mid-market segments.

• Credit Karma revenue surged 36% to $511 million, while Consumer Group revenue increased 3% to $509 million.

Financial highlights

• Q2 FY25 total revenue reached $4.0 billion, up 17% year-over-year; service revenue was $3.25 billion.

• Global Business Solutions revenue up 19% to $2.7 billion; Online Ecosystem revenue up 21% to $2.0 billion.

• Net income for Q2 FY25 was $471 million, up 33% year-over-year.

• Cash and investments totaled $2.5 billion as of January 31, 2025; debt stood at $6.3 billion.

• Repurchased $721 million of stock in Q2; $3.6 billion remains authorized for repurchase.

Outlook and guidance

• FY25 revenue expected between $18.16 billion and $18.35 billion, growth of 12–13%.

• FY25 GAAP operating income projected at $4.65–$4.72 billion (up 28–30%); non-GAAP at $7.24–$7.32 billion (up 13–14%).

• FY25 GAAP diluted EPS guidance: $12.34–$12.54 (up 18–20%); non-GAAP diluted EPS: $19.16–$19.36 (up 13–14%).

• Q3 FY25 revenue expected at $7.55–$7.60 billion, with GAAP diluted EPS of $9.22–$9.28.

• Segment revenue growth for FY25: Global Business Solutions Group 16–17%, Consumer Group 7–8%, ProTax Group 3–4%, Credit Karma 5–8%.