:max_bytes(150000):strip_icc()/INV_IntuitTurboTax_GettyImages-2021273212-9fa2aa6ca64149cfa1553d7182652f6a.jpg "Intuit’s Stock Price is Surging Friday. Here’s Why the TurboTax Maker is Gaining.")
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Key Takeaways
- Intuit beat profit and sales estimates with its latest quarterly results thanks to demand for its AI products.
- The maker of QuickBooks, TurboTax and MailChimp said its AI platform is helping mid-sized businesses improve efficiency.
Intuit (INTU) shares jumped Friday, one day after the maker of accounting software reported better-than-expected results as its AI tools boost demand from mid-market businesses.
The company behind QuickBooks, TurboTax and MailChimp posted first-quarter fiscal 2026 adjusted earnings of $3.34 per share, 25 cents more than analysts from Visible Alpha were looking for. Revenue grew 18% to $3.89 billion, also topping estimates.
Why This News Matters
Intuit is seeing stronger demand as it leans deeper into artificial intelligence tools that streamline accounting and payments. The company’s AI tools are reducing workloads and speeding up customer cash flow, leading to higher revenue for its QuickBooks platform.
Most of the revenue came from the Global Business Solutions division, which recorded an 18% increase to $2.99 billion. QuickBooks Online Accounting revenue climbed 25% to $1.21 billion.
CEO Sasan Goodarzi said the company continued “to execute on our AI-driven expert platform strategy.” In a call with analysts, Goodarzi said that Intuit’s Accounting Agent “is saving customers up to 12 hours a month and our Payments Agent helps customers get paid on average five days faster.”
Intuit will soon launch “more-advanced capacity planning, productivity and collaboration capabilities, and over time, firms can integrate to other functions,” he said. Those comments came from a transcript provided by AlphaSense.
Intuit shares were up 6% in recent trading. The stock came into today’s session up about 1% since the start of the year, significantly lagging the performance of major stock indexes.
