Shares of Intuit jumped 8% following the company’s announcement of its fiscal third-quarter results, which exceeded analysts’ expectations and featured an optimistic forecast for the full year. Known primarily for its TurboTax and QuickBooks software, Intuit reported revenue growth of 15% to $7.8 billion during the quarter. Net income increased by 18% to $2.82 billion, or $10.02 per share, compared to $2.39 billion, or $8.42 per share, in the same period last year.
Intuit’s CEO, Sasan Goodarzi, described this as the company’s fastest organic growth in over a decade, attributing it to broad-based strength across the platform. He highlighted the company’s expanding integration of artificial intelligence (AI) technologies as a key element of its growth strategy, aiming to become a comprehensive provider of AI-driven solutions for consumers and small to mid-sized businesses.
The company also raised its full-year revenue guidance, projecting between $18.72 billion and $18.76 billion, up from its previous forecast of $18.16 billion to $18.35 billion. This revised outlook surpassed analyst expectations, which had centered around $18.35 billion.
Analysts have responded positively to Intuit’s performance and future prospects. Goldman Sachs reaffirmed its buy rating on the stock and increased its price target from $750 to $860, citing the company’s strong execution across key growth areas. They emphasized Intuit’s unique position at the intersection of consumer and business ecosystems, reinforced by a strategic focus on AI.
Goldman Sachs analysts pointed to Intuit’s AI roadmap, which includes the deployment of AI agents and AI-enhanced human experts, as a major factor that could drive further upside. They noted that these innovations will help fuel the success of both consumers and small and mid-market businesses, enhancing Intuit’s competitive edge and long-term growth potential.
Deutsche Bank also reiterated its buy rating, raising its price target to $815 from $750. The bank described Intuit’s quarterly results as “reassuring” following a challenging couple of years. Deutsche Bank analysts expressed increased confidence in the company’s ability to grow its consumer business, which has been a critical segment of its overall operations.
Looking ahead, Deutsche Bank sees Intuit’s platform approach as a catalyst for accelerated innovation and improved operational leverage. This approach, combined with ongoing AI investments, is expected to enable the company to sustain mid-teens or better growth in earnings per share over the long term.
Intuit’s commitment to redefining what is possible with AI aligns with broader trends across the technology sector, where machine learning and automation are increasingly integral to driving efficiency and customer engagement. By blending AI capabilities with its existing software platforms, Intuit aims to deliver enhanced value to users and maintain its leadership in financial technology.
Overall, Intuit’s recent financial performance, strengthened guidance, and robust AI initiatives have bolstered investor confidence, positioning the company for continued success in both consumer and business markets.
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