Intuit Inc. · INTU · FY2026 Q2 · Calendar Q1 2026

Intuit beats Q2 estimates, revenue up 17%, full-year guidance held

Intuit's forward case rests on AI becoming its core growth engine rather than a margin drag. Management reported 17% revenue growth in Q2 FY2026 to approximately $4.7B and tied the acceleration to AI-and-human-intelligence 'done-for-you' experiences across QuickBooks, TurboTax, Credit Karma, and the mid-market push, including a new construction edition of Intuit Enterprise Suite and 40% YoY growth in the online ecosystem. Payments and bill-pay volume grew 29% YoY. Per the supplied analysis, the bull case hinges on sustaining double-digit growth while operating margins hold as AI costs and the Anthropic/OpenAI partnerships come through, with Mailchimp and desktop recapture flagged as swing factors.

Reported After market closeNASDAQTechnology $75.81B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $4.15 Consensus $3.68
EPS surprise +12.8% Reported versus consensus
Reported revenue $4.65B Consensus $4.53B
Revenue surprise +2.6% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +3.7% Event window
SPY move -0.5% Same window
Abnormal move +4.2% Stock minus SPY
Volume 1.6× Versus trailing sessions
Subsequent drift +1.8% Up to 20 sessions
INTUSPY benchmark

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Why did INTU rise 3.7% after beating EPS estimates in FY2026 Q2?What changed in INTU's guidance and outlook in FY2026 Q2?Give me the bull and bear case for INTU after FY2026 Q2 earnings.

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Transcript intelligence

What changed

Intuit maintained momentum relative to Q1 FY2026 (18% revenue growth to $3.9B in the prior quarter) with 17% growth to approximately $4.7B in Q2, and reiterated its full-year outlook. New developments this quarter include the broader rollout of Intuit Intelligence, a multi-year partnership with Anthropic, inclusion of all four Intuit apps in OpenAI's App Directory, and the construction edition of Intuit Enterprise Suite. EPS of $4.15 beat consensus by 12.8%. The stock rose about 4.2% relative to the benchmark in the session after reporting, with 1.57x baseline volume.

Guidance delta

Management maintained (guidance sentiment: maintained) and reaffirmed full-year FY2026 guidance, continuing to expect double-digit revenue growth for the year. No upward revision was cited despite Q2 over-performance; some operating-margin guidance leans on Q2 over-delivery, with some costs shifting into Q3 (a concern raised on the call).

Key takeaways

  • Q2 FY2026 revenue grew 17% YoY to approximately $4.7B; GAAP EPS of $4.15 beat the $3.68 consensus (12.8% surprise).
  • Double-digit growth across QuickBooks, TurboTax, and the mid-market ecosystem; payments and bill-pay volume grew 29% YoY.
  • Intuit Intelligence, the AI-and-human-intelligence platform behind 'done-for-you' experiences, is scaling, and all four Intuit apps were added to OpenAI's App Directory.
  • A new construction-specific edition of Intuit Enterprise Suite marked the first industry-focused AI-native ERP; the online ecosystem grew 40% YoY.
  • Full-year FY2026 guidance reaffirmed with double-digit revenue growth expected.

Management priorities

  • Broad rollout of Intuit Intelligence across the ecosystem.
  • Release of additional industry-specific Intuit Enterprise Suite editions beyond construction.
  • Expand the direct sales force by roughly 30% and deepen the accountant reseller network.
  • Grow the network of 600+ local tax service centers plus virtual AI-driven filing options.
  • Develop AI partnerships (Anthropic, OpenAI) while keeping proprietary data within Intuit's architecture.

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Earnings History

Estimate Beat Miss Match
INTU REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 2 future estimate-only quarters. Q1 '24 estimate $3B Q1 '24 actual $3B, beat Q2 '24 estimate $3B Q2 '24 actual $3B, match Q3 '24 estimate $7B Q3 '24 actual $7B, beat Q4 '24 estimate $3B Q4 '24 actual $3B, beat Q4 '25 estimate $4B Q4 '25 actual $4B, beat Q1 '26 estimate $4B Q1 '26 actual $4B, beat Q2 '26 estimate $5B Q2 '26 actual $5B, beat Q3 '26 estimate $9B Q3 '26 actual $9B, beat Q4 '26 estimate $4B Q4 '26 actual $4B, beat Q1 '27 estimate $4B Q2 '27 estimate $5B
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Analyst Consensus ?

ConsensusHold44 ratings
Bullish2659.1%
Neutral1329.5%
Bearish511.4%

Analyst 52W Price Targets

$275.64Current
$276Low
$512.94Average
$880High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 25, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Truist Securities Hold HoldMaintainSep 18, 2026
TD Cowen Hold HoldMaintainSep 18, 2026
Stifel Hold HoldMaintainSep 18, 2026
RBC Capital Outperform OutperformMaintainSep 18, 2026
Mizuho Outperform OutperformMaintainSep 18, 2026
Show 39 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $275.64. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
RBC CapitalAnalyst unavailable$385$307.56 +39.7%Sep 18, 2026
UBSAnalyst unavailable$370$347.66 +34.2%Aug 27, 2026
Goldman SachsAnalyst unavailable$304$345.88 +10.3%Aug 26, 2026
KeyBancAnalyst unavailable$400$347.77 +45.1%Aug 26, 2026
Truist FinancialArvind Ramnani$300$348.85 +8.8%Aug 26, 2026
See 115 more

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Company context

Snapshot as of publication

Intuit Inc. provides financial management, payments and capital, compliance, and marketing products and services in the United States. The company operates in four segments: Global Business Solutions, Consumer, Credit Karma, and ProTax. The Global Business Solutions segment provides QuickBooks services, which include financial and business management online services, desktop software, payroll solutions, time tracking, merchant payment processing and bill pay solutions, checking accounts, and financing services for small and mid-market businesses; and Mailchimp, a marketing automation and customer relationship management.…

Historical context

All INTU earnings
-3.2%FY2026 Q4 · Calendar Q3 2026-20.0%FY2026 Q3 · Calendar Q2 2026

Technology peers this season

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ORCL Oracle Corporation FY2027 Q1 · Calendar Q3 2026 +10.3% -1.7% Oracle raises FY27 outlook as AI demand accelerates cloud growth
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CIEN Ciena Corporation FY2026 Q3 · Calendar Q3 2026 +22.0% -10.4% Ciena raises outlook as AI networking demand lifts backlog
DOCU DocuSign, Inc. FY2027 Q2 · Calendar Q3 2026 +6.4% +3.7% DocuSign Q2 FY27: IAM momentum supports a raised outlook

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-09-25T14:01:21.519269+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-25T14:01:21.516357+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-09-25. For educational purposes only; not investment advice.