Intuit Logs Higher 2Q Profit, Gives Soft 3Q Outlook — Update

By Kelly Cloonan

Intuit logged higher profit and sales in its latest quarter as its QuickBooks platform continues to attract demand.

However, the financial technology company's profit guidance for the fiscal third quarter--which overlaps with peak tax season--came in short of Wall Street's expectations.

The stock fell 5.4% to $373 in after-hours trading on Thursday. Through the market close shares have declined 37% in the past year.

The company behind TurboTax and Credit Karma said its margins in the current quarter would be dented in part by a shift in marketing costs from the fiscal second quarter.

For the fiscal third quarter, which falls during peak tax season, Intuit expects revenue to grow about 10%, earnings per share of $10.56 to $10.62 and adjusted earnings per-share of $12.45 to $12.51.

Analysts polled by FactSet forecast revenue growth of about 9.9%, earnings per share of $11.13 and adjusted earnings per share of $12.97.

Chief Financial Officer Sandeep Aujla said he remains confident in Intuit's guidance for the fiscal year, which ends July 31.

"We operate to delivering margins for the full year. I feel super confident in our guide for the full year," Aujla said during a call with analysts.

The company's fiscal-year outlook calls for revenue of about $21 billion to $21.19 billion, earnings per share of $15.49 to $15.69 and adjusted earnings per share between $22.98 to $23.18.

For the fiscal second quarter, Intuit posted a profit of $693 million, or $2.48 a share, for the quarter ended Jan. 31, compared with $471 million, or $1.67 a share, a year earlier.

Adjusted earnings per share were $4.15, compared with estimates of $3.68 a share according to analysts polled by FactSet.

Revenue climbed 17% to $4.65 billion, compared with analyst estimates of $4.53 billion.

By segment, revenue from Intuit's global business solutions group increased 18%, to $3.2 billion, helped in part by growth for its QuickBooks online accounting business. Consumer revenue rose 15% to $1.5 billion due to higher Credit Karma and TurboTax revenue.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

February 26, 2026 19:17 ET (00:17 GMT)