INTU 8-K — Smart Summary

Intuit reported second-quarter fiscal 2026 results for the period ended January 31, 2026, with total revenue of $4.7 billion, up 17% year-over-year, driven by strong performance across Global Business Solutions and Consumer segments. The company reiterated its full-year fiscal 2026 guidance and announced a quarterly cash dividend of $1.20 per share, representing a 15% increase versus the prior-year period.

• Total revenue: $4,651M, up 17% YoY
• GAAP operating income: $855M, up 44% YoY
• Non-GAAP operating income: $1,549M, up 23% YoY
• GAAP diluted EPS: $2.48, up 49% YoY
• Non-GAAP diluted EPS: $4.15, up 25% YoY
• GAAP net income: $693M vs. $471M in Q2FY25
• Net cash provided by operating activities (six months ended Jan 31, 2026): $2,207M vs. $1,431M prior-year period, up 54%
• GAAP operating margin improved significantly given operating income growth of 44% outpacing revenue growth of 17%

• Global Business Solutions: revenue $3.2B, up 18%; Online Ecosystem revenue $2.5B, up 21%; excluding Mailchimp, segment up 21% and Online Ecosystem up 25%
• QuickBooks Online Accounting revenue: up 24%, driven by higher effective prices, customer growth, and mix-shift
• Online Services revenue: up 18%, driven by money and payroll offerings
• Total international online revenue: up 9% on a constant currency basis
• Consumer: revenue $1.5B, up 15%
• Credit Karma: revenue $616M, up 23%, driven by personal loans, credit cards, and auto insurance
• TurboTax: revenue $581M, up 12%
• ProTax: revenue $290M, up 7%

• Cash and investments balance: ~$3.0B as of January 31, 2026
• Total debt: $6.2B as of January 31, 2026 ($749M short-term, $5,411M long-term)
• Entered $5.8B unsecured revolving credit facility on January 30, 2026, to fund TurboTax early tax refund offering; terminated effective February 26, 2026
• Entered new $2.2B unsecured revolving credit facility on January 9, 2026, maturing January 9, 2031, replacing prior February 5, 2024 agreement
• Share repurchases: $961M of stock repurchased in Q2 FY2026; $3.5B remaining on share repurchase authorization
• Quarterly dividend: $1.20 per share approved, payable April 17, 2026 to shareholders of record April 9, 2026; represents 15% increase vs. same period last year

• "We delivered an outstanding second quarter, driven by disciplined execution. We are defining a new category at the intersection of AI and human intelligence, one that delivers autonomous, done-for-you experiences, disrupts the traditional assisted tax segment, and provides mid-market enterprises with the AI-native ERP platform they need to win." — Sasan Goodarzi, Chairman and CEO
• "We delivered a very strong second quarter of fiscal 2026, reflecting our continued business momentum across the big bets and our disciplined approach to managing the business. Our momentum across the company continues to give us high confidence in delivering double-digit revenue growth and expanding margin this year, and we are reiterating our full year guidance for fiscal 2026." — Sandeep Aujla, CFO

• Full-year FY2026 revenue reiterated at $20,997M–$21,186M, growth of ~12–13%
• Full-year FY2026 GAAP operating income: $5,782M–$5,859M, growth of ~17–19%
• Full-year FY2026 non-GAAP operating income: $8,611M–$8,688M, growth of ~14–15%
• Full-year FY2026 GAAP diluted EPS: $15.49–$15.69, growth of ~13–15%
• Full-year FY2026 non-GAAP diluted EPS: $22.98–$23.18, growth of ~14–15%
• Global Business Solutions full-year growth reiterated at 14–15%; Mailchimp expected to return to double-digit growth beyond FY2026
• Consumer full-year growth reiterated at 8–9% (TurboTax +8%, Credit Karma +10–13%, ProTax +2–3%)
• Q3 FY2026 (ending April 30, 2026): revenue growth ~10%; GAAP diluted EPS $10.56–$10.62; non-GAAP diluted EPS $12.45–$12.51