Intuit Reports Strong Q3 2025 Results, Raises Full-Year Guidance

Intuit Inc., the global financial technology leader behind TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced its third-quarter results for fiscal year 2025, ending April 30. With double-digit growth across key business segments and an impressive AI-driven product evolution, Intuit has raised its full-year financial guidance.

1. Executive Commentary:

• CEO Sasan Goodarzi highlighted exceptional platform performance and the disruptive impact of AI-led services, including TurboTax Live.
• CFO Sandeep Aujla emphasized the strength of the tax season and ongoing momentum, leading to upgraded full-year expectations.

2. Q3 Financial Highlights:

• Total revenue: $7.8 billion, up 15% YoY
• Consumer Group revenue: $4.0 billion, up 11%
• Global Business Solutions Group revenue: $2.8 billion, up 19%
• Online Ecosystem revenue: $2.1 billion, up 20%
• Credit Karma revenue: $579 million, up 31%
• ProTax Group revenue: $278 million, up 9%
• GAAP operating income: $3.7 billion, up 20%
• Non-GAAP operating income: $4.3 billion, up 17%
• GAAP diluted EPS: $10.02, up 19%
• Non-GAAP diluted EPS: $11.65, up 18%

3. Consumer Group Outlook:

• TurboTax Live revenue: Expected to grow 47% to $2.0 billion
• TurboTax Live units: Expected to grow 24%
• Paying online units: Growth of ~6% driven by higher-value filers
• Total online units: Expected to decline ~1% due to fewer low-ARPR users
• IRS share: Expected to decline ~1 point

4. Global Business Solutions Group Performance:

• Online Services revenue grew 18%, fueled by money and payroll tools
• QuickBooks Online Accounting revenue rose 21%, driven by pricing and customer growth
• International Online Ecosystem revenue grew 8% on a constant currency basis

5. Credit Karma Surge:

• Revenue increased 31% YoY, reaching $579 million
• Growth led by credit cards, personal loans, and auto insurance segments

6. Capital Allocation Update:

• Cash & investments: $6.2 billion
• Debt: $6.4 billion
• Stock repurchase: $754 million in Q3; $2.8 billion remaining in authorization
• Quarterly dividend: $1.04/share, payable July 18 (16% YoY increase)

7. Full-Year 2025 Guidance (Updated):

• Revenue: $18.723B–$18.760B (15% growth)
• GAAP operating income: $4.898B–$4.918B (35% growth)
• Non-GAAP operating income: $7.543B–$7.563B (18% growth)
• GAAP diluted EPS: $13.19–$13.24 (26–27% growth)
• Non-GAAP diluted EPS: $20.07–$20.12 (18–19% growth)

Segment Guidance:

• Global Business Solutions Group: ~16% growth
  • Online Ecosystem: ~20% growth
  • Desktop Ecosystem: Mid-single-digit growth
• Consumer Group: ~10% growth
• ProTax Group: ~3–4% growth
• Credit Karma: ~28% growth (up from 5–8%)

8. Q4 FY2025 Forecast:

• Revenue: $3.723B–$3.760B (17–18% growth)
• Online Ecosystem (GBSG): ~21% growth
• GAAP EPS: $0.84–$0.89
• Non-GAAP EPS: $2.63–$2.68

9. Conference Call Access:

• Intuit held a conference call on May 22 at 1:30 p.m. PT
• A replay and prepared remarks are available at investors.intuit.com

Intuit’s strong Q3 FY2025 results showcase its dominance in financial technology, bolstered by a strategic focus on AI and integrated platform experiences. With raised full-year guidance and continued gains across key product lines, Intuit positions itself for sustained leadership in empowering individuals and businesses globally.