Intuit (INTU) Q3 2026 earnings summary

Executive summary

• Q3 revenue grew 10% year-over-year to $8.6 billion, driven by AI-powered platform strategy and robust growth in Assisted Tax, Money portfolio, and mid-market segments, each exceeding 30% growth.

• FY26 revenue reached $21.37 billion, up 14% year-over-year, with strong double-digit gains in Global Business Solutions, TurboTax, and Credit Karma.

• Non-GAAP operating income for FY26 was $8.8 billion, with a non-GAAP operating margin of 40.2%.

• Announced a 17% reduction in full-time workforce to simplify the organization, improve velocity, and sharpen cost structure, with estimated restructuring charges of $300–$340 million.

• Segment reporting was revised, combining Consumer, Credit Karma, and ProTax into a single Consumer business effective August 2025.

Financial highlights

• FY26 total revenue grew 14% year-over-year to $21.37 billion; Q3 revenue was $8.6 billion, up 10% year-over-year.

• GAAP operating income for FY26 was $4.92 billion, up from $3.63 billion in FY25; Q3 GAAP operating income was $4.0 billion, up 8%.

• Non-GAAP diluted EPS for FY26 was $23.80–$23.85, up from $20.15 in FY25; Q3 non-GAAP diluted EPS was $12.80.

• Net income for Q3 FY26 was $3.06 billion, up 9% from Q3 FY25.

• Cash and investments totaled $6.8 billion as of April 30, 2026; debt stood at $6.2 billion.

Outlook and guidance

• FY26 revenue guidance raised to $21.34–$21.37 billion, representing 13–14% growth.

• Non-GAAP operating income guidance for FY26 is $8.78–$8.80 billion; GAAP operating income expected at $5.71–$5.73 billion.

• Non-GAAP diluted EPS guidance for FY26 is $23.80–$23.85; GAAP diluted EPS forecast at $15.79–$15.84.

• Q4 revenue growth expected at 11–12%, with $300M–$340M in restructuring charges.

• Management expects continued investment in AI-driven product development, marketing, and sales.