Intuit Inc. Q2 FY2026 earnings call

Intuit delivered Q2 revenue growth of 17%. Strategy focuses on three big bets: delivering done-for-you experiences powered by AI and HI, accelerating money benefits, and fueling mid-market success. All-in-one business platform sees momentum with AI agents, QuickBooks Live growth over 50% in Q2. Consumer platform has 12% TurboTax revenue growth, Credit Karma driving tax growth. Mid-market sees online ecosystem revenue for QBO Advanced and Intuit Enterprise Suite grow 40%, expanding sales team and accountant partnerships

Global Business Solutions Group revenue grew 18% during the quarter, or 21% excluding MailChimp. Online ecosystem revenue grew 21% in Q2, or 25% excluding MailChimp, with online ecosystem revenue for QBO Advanced and Intuit Enterprise Suite increasing 40%. Desktop ecosystem revenue grew 10% in Q2 and desktop Enterprise revenue grew in the high teens in Q2; continue to expect desktop ecosystem revenue to grow low single digits in fiscal year 2026. Consumer platform Q2 revenue grew 15%, driven by Credit Karma revenue growing 23%, TurboTax revenue growing 12%, and ProTax revenue growing 7%

Reaffirming fiscal 2026 guidance: total company revenue $20.997 billion to $21.186 billion, growth 12%-13%; Global Business Solutions Group revenue growth 14%-15%; overall consumer group revenue growth 8%-9%; GAAP diluted earnings per share $15.49 to $15.69, growth 13-15%; non-GAAP diluted earnings per share $22.98 to $23.18, growth 14-15%. Q3 fiscal 2026 guidance: total company revenue growth 10%, GAAP earnings per share $10.56 to $10.62, non-GAAP earnings per share $12.45 to $12.51

Risks related to factors causing Intuit's results to differ materially from expectations, including market risks and regulatory risks, detailed in press release, Form 10-K for fiscal 2025, and other SEC filings

Q: Sidi Panegrahi with Mizuho asked about AI disrupting software and margin, A: Sasan Godarzi and Sandeep Ajla responded on Intuit's category of one, partnership with LLMs, and margin guidance; Q: Brad Zelnick with Deutsche Bank asked about balance between AI and HI, A: Sasan Godarzi talked about assisted tax, mid-market, and AI agents' benefits; Q: Keith Weiss with Morgan Stanley asked about Anthropic deal, A: Sasan Godarzi explained partnership details and data control; Q: Steve Enders with Citi asked about AI focus on core vs context, A: Sasan Godarzi explained context and core in AI partnership; Q: Mark Murphy with J.P. Morgan asked about IRS returns timing and economic indicators, A: Sandeep Ajla responded on tax season timing and economic health indicators; Q: Alex Zukin with Wolf Research asked about durability of trends and Anthropic monetization, A: Sasan Godarzi and Sandeep Ajla talked about durable trends and AI margin impact; Q: Gabriella Borges with Goldman Sachs asked about general purpose knowledge intelligence tools, A: Sasan Godarzi explained core vs context in AI partnership; Q: Daniel Jester with BMO Capital Markets asked about 600 service centers, A: Sasan Godarzi talked about the success of service centers