Intuit Inc. reported strong financial performance for the third quarter and first nine months of fiscal 2025, with total net revenue reaching $7.8 billion and $15.0 billion, respectively, marking increases of 15% and 14% compared to the same periods in fiscal 2024. The company's net income for the quarter was $2.8 billion, up 18% year-over-year, while net income for the nine-month period was $3.5 billion, reflecting a 17% increase. Diluted earnings per share also rose, reaching $10.02 for the third quarter and $12.33 for the nine months, compared to $8.42 and $10.51 in the prior year.
Significant growth was observed across Intuit's segments, particularly in the Global Business Solutions and Consumer segments. The Global Business Solutions segment generated $2.8 billion in revenue for the quarter, a 19% increase, driven by strong performance in the Online Ecosystem, which includes QuickBooks and Mailchimp offerings. The Consumer segment also saw revenue growth of 11% to $4.0 billion, attributed to higher-priced services like TurboTax Live. The Credit Karma segment experienced a notable 31% increase in revenue, reaching $579 million, while the ProTax segment reported a 9% increase to $278 million.
Operationally, Intuit has made strategic changes, including the reorganization of its Small Business & Self-Employed segment into the Global Business Solutions segment, effective August 1, 2024. This change aligns with the company's focus on serving small and mid-market businesses globally. Additionally, the company has been investing in artificial intelligence (AI) technologies to enhance customer experiences and streamline operations. As of April 30, 2025, Intuit's total cash, cash equivalents, and investments stood at $6.2 billion, a 52% increase from the previous year, bolstered by strong cash flow from operations.
Intuit's stock repurchase program remains active, with the company repurchasing 3.3 million shares for $2.0 billion during the nine months ended April 30, 2025. The Board of Directors has authorized an additional $3 billion for stock repurchases, reflecting the company's commitment to returning value to shareholders. Looking ahead, Intuit anticipates continued growth driven by its AI-driven platform strategy and the ongoing demand for its financial management products and services, despite potential challenges from regulatory changes and competitive pressures in the market.
About INTUIT INC.
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