Intuit Inc. reported strong financial performance for the third quarter and first nine months of fiscal 2026, with total net revenue reaching $8.6 billion for the quarter, a 10% increase from $7.8 billion in the same period last year. For the nine months ending April 30, 2026, revenue rose to $17.1 billion, up 14% from $15 billion in the prior year. The company's net income for the quarter was $3.1 billion, reflecting a 9% increase from $2.8 billion a year earlier, while net income for the nine-month period was $4.2 billion, a 20% increase from $3.5 billion. Diluted earnings per share also saw significant growth, reaching $11.09 for the third quarter and $15.05 for the nine months, marking increases of 11% and 22%, respectively.
The company experienced notable growth across its segments, with the Global Business Solutions segment generating $3.3 billion in revenue for the third quarter, a 15% increase year-over-year, driven by strong performance in its Online Ecosystem. The Consumer segment reported $5.3 billion in revenue, an 8% increase, supported by growth in assisted tax services and Credit Karma offerings. However, revenue from TurboTax federal units decreased, impacting overall growth in the Consumer segment. Intuit's strategic decision to combine its Consumer, Credit Karma, and ProTax businesses into a single segment in August 2025 has allowed for better resource allocation and performance assessment.
Operationally, Intuit's customer engagement metrics showed positive trends, with increased adoption of its online services and financial management tools. The company reported a significant rise in customer counts, particularly in its QuickBooks Online and TurboTax offerings. The total cash, cash equivalents, and investments as of April 30, 2026, stood at $6.8 billion, a 49% increase from $4.6 billion at the end of the previous fiscal year, bolstered by strong cash flow from operations. Intuit's employee headcount remained stable, reflecting its focus on maintaining a lean operational structure while investing in technology and innovation.
Looking ahead, Intuit has initiated a restructuring plan aimed at simplifying its organizational structure and enhancing operational efficiency, which is expected to incur approximately $300 million to $340 million in restructuring charges. The company anticipates that these changes will be substantially completed by the first quarter of fiscal 2027. Intuit's management remains optimistic about future growth, driven by its AI-driven platform strategy and ongoing investments in technology, which are expected to enhance customer experiences and operational capabilities. The company continues to navigate a competitive landscape while focusing on delivering value to its customers and shareholders.
About INTUIT INC.
Intuit Inc. is a global financial technology company providing software and services for consumers, small and mid-market businesses, and accountants. Its core offerings include tax preparation, accounting, financial management, payments, and marketing solutions, leveraging AI and human expertise. The company focuses on automation, data-driven insights, and integrated platforms to enhance financial success, efficiency, and compliance for its diverse customer base worldwide.
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