Intuit Inc. (INTU) is a global financial technology platform that dominates the SMB (Small and Medium Business) and consumer tax sectors. The company operates through four primary segments: Small Business & Self-Employed (QuickBooks, Mailchimp), Consumer (TurboTax), Credit Karma, and ProTax, notes Ben Reynolds, editor of Sure Dividend Growth.
Cumulatively, these platforms serve over 100 million customers worldwide. The $78 billion market cap company recorded $18.8 billion in revenue in its fiscal year ending July 2025.
On May 20, Intuit posted its fiscal third-quarter results. Despite fears of AI disrupting the business, this was another strong quarter, with Global Business Solutions revenue up 15% year-over-year to $3.3 billion.
Specifically, QuickBooks Online Accounting revenue grew 22% year-over-year, driven by higher effective prices, customer growth, and mix-shift. Online Ecosystem revenue increased 19% to $2.5 billion, while Online Services revenue grew 15%, driven by growth in money and payroll offerings. Total international online revenue grew 10% on a constant currency basis.
Adjusted earnings per share grew by 10% to $12.80. Alongside the results, Intuit announced a restructuring plan that includes reducing its full-time workforce by 17%, with expected restructuring charges of $300 million to $340 million, largely in fiscal Q4.
Although the rise of autonomous AI agents could pose long-term pressure on traditional SaaS pricing models, we believe Intuit is well positioned to adapt and lead. With its proprietary GenOS platform and a data advantage spanning more than 100 million customers, the company should be able to grow from a traditional software provider into an AI-driven expert platform.
Recommended Action: Buy INTU.
