Intuit Inc. Earnings Call Highlights Strong Growth and AI Innovations

Intuit Inc. ((INTU)) has held its Q3 earnings call. Read on for the main highlights of the call.

Intuit Inc.’s recent earnings call painted a predominantly positive picture, highlighting strong revenue growth, impressive TurboTax Live performance, and significant strides in AI-driven innovations and mid-market penetration. However, the company acknowledged challenges in user experience for TurboTax and stagnant Mailchimp revenue that require attention.

Strong Revenue Growth

Intuit Inc. reported an exceptional quarter with a remarkable 15% revenue growth, prompting the company to raise guidance across all major metrics, including revenue, operating income, operating margin, and earnings per share. This robust performance underscores Intuit’s strong market position and operational efficiency.

TurboTax Live Performance

TurboTax Live customers increased by 24%, leading to a substantial 47% growth in TurboTax Live revenue. This performance significantly exceeded the long-term expectation of 15% to 20% revenue growth, demonstrating the product’s strong market appeal and customer satisfaction.

AI-Driven Innovations

Intuit Inc.’s global AI-driven expert platform strategy is accelerating innovation. The integration of AI agents and AI-enabled human experts is redefining possibilities for consumers, small and mid-market businesses, and accountants, positioning Intuit as a leader in AI-driven financial solutions.

Mid-Market Progress

The company is making notable progress in serving mid-market customers with its QBO Advanced and Intuit Enterprise Suite. There is strong adoption by industries such as construction, IT services, and legal services, highlighting Intuit’s expanding footprint in the mid-market segment.

Credit Karma Growth

Credit Karma reported a 31% revenue growth in Q3, driven by strong performance in credit cards, personal loans, and auto insurance. This success led to an increase in fiscal 2025 revenue growth guidance from 5%-8% to 28%, showcasing Credit Karma’s significant contribution to Intuit’s overall growth.

Challenges with TurboTax User Experience

Despite improvements, Intuit faced challenges in providing a seamless experience for TurboTax users transitioning from assisted tax services. Issues in user authentication processes created friction, indicating areas for further enhancement.

Mailchimp Revenue Stagnation

Mailchimp’s revenue remained relatively flat year-over-year, with expectations for improved outcomes at scale over the coming quarters. This stagnation highlights the need for strategic adjustments to drive growth in this segment.

Forward-Looking Guidance

During the third-quarter fiscal 2025 conference call, Intuit provided optimistic guidance, raising expectations across key financial metrics. The company anticipates a 15% revenue growth for fiscal 2025, up from prior guidance of 12% to 13%. Intuit’s strategic focus on leveraging AI to drive innovation and efficiency is expected to contribute to a projected 100 basis point margin expansion for the fiscal year.

In summary, Intuit Inc.’s earnings call reflected a positive outlook with strong revenue growth and strategic advancements in AI and mid-market penetration. While challenges remain in TurboTax user experience and Mailchimp revenue, the company’s forward-looking guidance suggests continued momentum and growth potential.