Intuit Posts $21.4 Billion Fiscal 2026 Revenue
Fourth-quarter revenue rose 14% to $4.4 billion, a faster pace than the 10% gain in the third quarter.
Intuit Inc. (INTU), the financial-technology platform behind TurboTax, Credit Karma, QuickBooks, Mailchimp, and Intuit Enterprise Suite, reported full-year fiscal 2026 revenue of $21.4 billion, up 14% from the year-ago period.
Fourth-quarter revenue of $4.4 billion also rose 14%, after 10% growth in the third quarter and 17% growth in the second. Chairman and Chief Executive Officer Sasan Goodarzi said the company surpassed $20 billion in full-year revenue, with growth fueled by “Big Bets” that collectively grew 34% and represented 30% of full-year revenue.
Global Business Solutions, the larger of the two reportable segments, generated $12.9 billion for the full year, up 16%. Online Ecosystem revenue was $9.9 billion, up 19%. Consumer revenue was $8.6 billion, up 11%. In the fourth quarter, Global Business Solutions revenue was $3.4 billion, up 14%, and Online Ecosystem revenue was $2.6 billion, up 17%. Consumer revenue was $930 million, up 14%.
QuickBooks Online Accounting revenue grew 20% in the fourth quarter, driven by higher effective prices, customer growth, and mix shift. Online Services revenue grew 15%, driven by Money and Payroll. Excluding Mailchimp, Online Ecosystem revenue increased 20% and Online Services revenue increased 21%. Total international online revenue increased 10% on a constant-currency basis.
Consumer products showed a mixed performance in the tax quarter. TurboTax revenue was $153 million, up 3%. Credit Karma revenue was $743 million, up 16%, driven by strength in personal loans, auto insurance, and credit cards. ProTax revenue was $34 million, up 6%. For the full year, TurboTax revenue was $5.3 billion, up 7%. TurboTax Live revenue increased 37% and represented 53% of total TurboTax revenue. Credit Karma revenue was $2.6 billion, up 20%. ProTax revenue was $647 million, up 4%. Total U.S. TurboTax units declined 2% to 39.0 million, with desktop units down 7% and online units down 2%.
GAAP operating income was $475 million in the fourth quarter. Non-GAAP operating income was $1.4 billion. GAAP diluted earnings were $1.34 a share, and non-GAAP diluted earnings were $4.03 a share. Restructuring expense was $293 million in the quarter, versus $1 million a year earlier. For the full year, GAAP operating income increased 20% to $5.9 billion, and non-GAAP operating income increased 18% to $8.9 billion. GAAP earnings were $16.46 a share, up 20%, and non-GAAP earnings were $24.27 a share, up 20%.
Cash and investments were $7.2 billion and total debt was $7.7 billion as of July 31, 2026. In June, the company issued $1.75 billion in senior notes. Intuit repurchased $5.5 billion of stock during fiscal 2026, up 96% versus the prior year, reducing weighted-average diluted shares outstanding by 2%. Remaining authorization was $7.9 billion. The board approved a quarterly dividend of $1.38 a share, a 15% increase versus last year.
Effective August 1, 2026, Mailchimp began being managed as a separate operating segment and will be a separate reportable segment in fiscal 2027. Share-based compensation expense will no longer be excluded from non-GAAP measures from the same date.
For fiscal 2027, the company expects total revenue of $23.3 billion to $23.5 billion, 9% to 10% growth. Global Business Solutions is guided at $13.1 billion to $13.2 billion, 13% to 14% growth. TurboTax is guided at $5.4 billion to $5.5 billion, 2% to 3% growth. Credit Karma is guided at $2.9 billion to $3.0 billion, 11% to 13% growth. ProTax is guided at $659 million to $662 million, 2% growth. Consumer is guided at $9.0 billion to $9.1 billion, 4% to 6% growth. Mailchimp is guided at $1.3 billion to $1.3 billion, down 1% to flat. GAAP operating income is guided at $7.4 billion to $7.5 billion, 26% to 27% growth. GAAP diluted earnings are guided at $20.12 to $20.36 a share, 22% to 24% growth.
First-quarter fiscal 2027 revenue is guided at $4.3 billion to $4.3 billion, 11% growth. GAAP operating income is guided at $716 million to $729 million, 34% to 37% growth. GAAP diluted earnings are guided at $1.71 to $1.75 a share, 8% to 10% growth. Chief Financial Officer Sandeep Aujla said the company is focused on scaling Big Bets, accelerating customer growth, and making deliberate choices to create a stronger foundation for durable long-term growth.