Intuit Posts $1.14 Billion Profit in H1 FY2026, Up 70% as Revenue Climbs to $8.54 Billion
Intuit Inc. (NASDAQ: INTU), the financial software company behind TurboTax and QuickBooks, reported net income of $1.14 billion for the six months ending January 31, up from $668 million in the prior-year period. Revenue rose 18% to $8.54 billion.
Revenue Growth Accelerates Across Business Segments
Intuit Inc. (NASDAQ: INTU), the financial software company behind TurboTax and QuickBooks, reported net income of $1.14 billion for the six months ending January 31, 2026, up 70% from $668 million in the same period of fiscal 2025. Revenue climbed 18% to $8.54 billion from $7.25 billion. Read more earnings reports.
For the three months ending January 31, the company posted net income of $693 million, compared to $471 million in the year-ago quarter. Quarterly revenue reached $4.65 billion, up 17% from $3.96 billion.
Operating Income Jumps 61% in Six-Month Period
Operating income for the first half of fiscal 2026 came in at $1.39 billion, a 61% increase from $864 million in the prior-year period. The company's operating margin expanded as revenue growth outpaced expense growth.
Cost of goods sold for the six-month period totaled $1.81 billion, up from $1.65 billion, while research and development expenses increased to $1.68 billion from $1.42 billion.
Cash Flow and Balance Sheet
Cash from operations reached $2.21 billion for the six months ending January 31, 2026, up from $1.43 billion in the prior-year period. Cash from financing activities showed an outflow of $5.41 billion, primarily reflecting share repurchases and debt servicing, compared to an outflow of $2.50 billion in the prior year.
Total assets stood at $34.28 billion as of January 31, 2026, down from $36.96 billion as of July 31, 2025. Cash and cash equivalents were $2.94 billion, up slightly from $2.88 billion at the end of fiscal 2025. Combined cash and restricted cash totaled $6.78 billion, down from $9.48 billion.
Long-term debt declined to $5.41 billion from $5.97 billion at the end of the prior fiscal year. Total stockholders' equity decreased to $19.06 billion from $19.71 billion.
Earnings Per Share and Share Count
Diluted earnings per share for the six-month period came in at $4.06, up from $2.36 in the prior year. For the three months ending January 31, diluted EPS was $2.48, compared to $1.67.
Weighted average diluted shares outstanding declined to 281 million from 283 million, reflecting the company's ongoing share repurchase program. Common shares outstanding as of January 31, 2026, totaled 277.5 million, down from 279.1 million at the end of fiscal 2025.
| Metric | Q2 FY2026 | Q2 FY2025 | H1 FY2026 | H1 FY2025 |
|---|---|---|---|---|
| Total Revenue | $4.65B | $3.96B | $8.54B | $7.25B |
| Operating Income | $855M | $593M | $1.39B | $864M |
| Net Income | $693M | $471M | $1.14B | $668M |
| Diluted EPS | $2.48 | $1.67 | $4.06 | $2.36 |
| Cash from Operations | — | — | $2.21B | $1.43B |
Segment Performance
The company's consumer segment, which includes TurboTax, generated net revenue of $2.38 billion for the six months ending January 31, 2026, up 17% from $2.03 billion. The small business and self-employed segment posted net revenue of $4.82 billion, up 21% from $3.98 billion.
Intuit's credit karma segment reported net revenue of $1.34 billion for the first half, up 8% from $1.23 billion in the prior-year period.