23 May 2025
If you are covering Intuit’s latest financial results, please find below a comment from Ben Barringer, global technology analyst at Quilter Cheviot:
“Intuit delivered a really solid set of results, producing a beat and raise at just the right time following a little bit of weakness in previous quarters. Revenues were up 15%, with earnings also up strongly at 20%. The key driver for this was the accounting and small business divisions, but rather pleasingly its tax business also did better than expected, with TurboTax in particular seeing off the threat from government efficiency drives to help reduce the tax burden on individuals and businesses. As a result of this, guidance has been upped for the remainder of the year and the business has put itself in a really strong position.
“The future is looking strong too, with artificial intelligence helping not only drive costs down, but also introduce new product lines. Intuit is going to go big on agentic AI as this gives them lots of different avenues to go down to help automate time draining tasks for small businesses. You will see it across customer services, payments, project management and accounting – the list could almost be endless.
“Intuit has put itself into a position where it can consistently grow at a good rate. It has seen very strong performance in the share price of late, but despite its rather toppy valuation, this is still looking reasonable given the growth that is on offer.”
