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Investing.com -- Intuit reported quarterly profit and revenue ahead of Wall Street expectations on Thursday, helped by strong growth across its business software and consumer finance units.
The maker of TurboTax and QuickBooks posted Q1 non GAAP EPS of $3.34, above analysts’ estimate of $3.09. Revenue rose 18% to $3.9 billion, topping expectations of $3.76 billion.
The company said Global Business Solutions revenue increased 18% to $3 billion, lifted by a 21% rise in Online Ecosystem sales. QuickBooks Online Accounting revenue grew 25% on higher prices, customer additions and mix shift. Consumer revenue rose 21% to $894 million. Credit Karma revenue increased 27% to $651 million, while TurboTax sales were up 6%.
GAAP operating income nearly doubled to $534 million. Non GAAP operating income rose 32% to $1.3 billion.
Chief executive Sasan Goodarzi said Intuit delivered an exceptional first quarter as it continued to execute on its AI driven expert platform strategy. Chief financial officer Sandeep Aujla said the company was confident in delivering double digit revenue growth and expanding margins this year.
It expects fiscal 2026 revenue of $21 billion to $21.2 billion and non GAAP EPS of $22.98 to $23.18. Wall Street estimated $21.15 billion in revenue and EPS of $23.16.
The company guided to Q2 non GAAP EPS of $3.63 to $3.68 on revenue growth of about 14 to 15%.
Shares were up 0.7% in extended trading.