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Key takeaways
- Intuit beat earnings and sales estimates with its latest quarterly results thanks to demand for its artificial intelligence products.
- The maker of QuickBooks, TurboTax and MailChimp said its AI platform helps mid-sized businesses improve efficiency.
Intuit ( INTU ) shares jumped on Friday, a day after the accounting software maker reported better-than-expected results as artificial intelligence tools boosted demand from mid-market companies.
The company behind QuickBooks, TurboTax and MailChimp reported first-quarter fiscal 2026 adjusted earnings of $3.34 per share, 25 cents more than what analysts from Visible Alpha were looking for. Revenue grew 18% to $3.89 billion, also above estimates.
Why is this news important?
Intuit is seeing stronger demand as it looks deeper into AI tools that simplify accounting and payments. The company’s AI tools reduce workloads and accelerate cash flow for customers, driving revenue for its QuickBooks platform.
Most of the revenue came from the Global Business Solutions division, which posted an 18% increase to $2.99 billion. QuickBooks Online Accounting revenue rose 25% to $1.21 billion.
Sasan Goudarzi, the company’s CEO, said the company continued to “implement its AI-driven expert platform strategy.” On a call with analysts, Goudarzi said Intuit’s accounting agent “save customers up to 12 hours per month, and our payments agent helps customers get paid five days faster on average.”
He said Intuit will soon launch “more advanced capabilities in capacity planning, productivity and collaboration, and over time, companies can integrate into other functions.” These comments came from text provided by AlphaSense.
Intuit shares rose 6% in recent trading. The stock entered today’s session up about 1% year-to-date, significantly lagging the performance of major stock indexes.
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