26 February 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 solid set of numbers with beats across the board, as previous concerns about the operating environment appear to have subsided. The tough economic backdrop made it appear like Intuit may struggle as smaller companies in America, and globally, took the brunt. However, tax and accounting services are needed more than ever as the tax landscape becomes more complex and difficult to navigate.
"The business also has stressed it is ready for the Trump administration and whatever disruption it may have in store for the tax agencies in the US. Indeed, it is seeing it as more of an opportunity given the potential for confusion, and it has been in conversations with DOGE about how it can help.
"Finally, and perhaps most importantly, Intuit has joined just a handful of companies in actually demonstrating the profitability and business use of artificial intelligence, and the benefits the tech can bring. Intuit is saving a huge amount in costs and time with software developers as coding becomes much more autonomous. Furthermore, the vast majority of people’s tax filings can now be read by AI, again helping to strip of time and resource that may previously have been required. There are very few companies in the world actually using AI in a way that benefits their business, but Intuit has proven it can."
