Latest news with #Goodarzi
Yahoo
28-05-2025
- Business
- Yahoo
Intuit leans into AI to improve taxpayer experience, boost revenue
This story was originally published on CX Dive. To receive daily news and insights, subscribe to our free daily CX Dive newsletter. Intuit's AI-driven expert platform strategy is delivering an improved customer experience and drove 15% year-over-year revenue growth across the business, executives said during a Q3 2025 earnings call last week. AI was particularly impactful for customers using TurboTax this filing season, CEO Sasan Goodarzi said. The software directs customers to the right product to file taxes and reduces the time spent filing. 'With our investment in data, AI and AI-enabled human expertise, we are disrupting the assisted category with experiences that are resonating with customers across both consumer and business tax,' Goodarzi said. 'The exceptional results are fueled by strong execution of our strategy to win as an AI-driven expert platform by delivering the best experience, speed to money, and the best price for customers.' Intuit, the parent company to TurboTax, Credit Karma, QuickBooks and Mailchimp, has gone all in on AI to improve customer experience and boost revenue. Intuit reported total revenue of $7.8 billion in third quarter 2025, according to an earnings report. The strong results led the software company to raise its guidance, including revenue, operating income and operating margin. Intuit expects consumer group revenue to grow 11% year over year to $4 billion for the full fiscal year, to be driven by TurboTax Live revenue. 'The strength across the company is driven by our global AI-driven expert platform strategy, powering prosperity for consumers, small and mid-market businesses, and accountants,' Goodarzi said. 'We're fueling the financial success of approximately 100 million customers by automating everyday tasks, managing complex workflows and processes, and solving challenges before they arise with predictive insights, and taking actions.' Intuit uses AI agents as well as AI-assisted human agents. TurboTax's AI-powered, mobile-first 'done-for-you' tax product drove a 12% reduction in the average time a customer spent filing. AI also helped human tax experts. For TurboTax's full-service offering, experts spent about 20% less time preparing a return, according to Goodarzi. 'Our data and AI platform capabilities had a profound impact on the productivity of our experts,' Goodarzi said. 'By doing a lot of the work for them and helping them finish returns quickly and accurately, they spent more time engaging and onboarding customers.' Intuit is planning on rolling out a broader set of end-to-end AI agents, including a customer AI agent, a payment AI agent, a project management AI agent, and an accounting AI agent, Goodarzi said. These agents can also talk to each other to solve customers' problems. 'Our goal is to solve challenges before they arise with predictive insights, take smart action on our customers' behalf, and seamlessly connect them to AI-enabled human experts when needed with customers always in control,' Goodarzi said. Goodarzi is confident that Intuit can further disrupt the $35 billion assisted tax category. One competitor that had been ready to disrupt the field was the federal government. In 2024, the IRS came out with its own free tax filing software, Direct File, which earned high customer satisfaction marks. That program is now on the chopping block should the $3.8 trillion Republican tax bill that just passed the House become law. Intuit and H&R Block, which has its own tax-filing software, have long lobbied against the IRS providing free software directly to taxpayers, ProPublica found. Sign in to access your portfolio
CNBC
23-05-2025
- Business
- CNBC
Intuit shares pop 9% on earnings beat, rosy guidance
Shares of Intuit popped about 9% on Friday, a day after the company reported quarterly results that beat analysts' estimates and issued rosy guidance for the full year. Intuit, which is best known for its TurboTax and QuickBooks software, said revenue in the fiscal third quarter increased 15% to $7.8 billion. Net income rose 18% to $2.82 billion, or $10.02 per share, from $2.39 billion, or $8.42 per share, a year earlier. "This is the fastest organic growth that we have had in over a decade," Intuit CEO Sasan Goodarzi told CNBC's "Closing Bell: Overtime" on Thursday. "It's really incredible growth across the platform." For its full fiscal year, Intuit said it expects to report revenue of $18.72 billion to $18.76 billion, up from the range of $18.16 billion to $18.35 billion it shared last quarter. Analysts were expecting $18.35 billion, according to LSEG. "We're redefining what's possible with [artificial intelligence] by becoming a one-stop shop of AI-agents and AI-enabled human experts to fuel the success of consumers and small and mid-market businesses," Goodarzi said in a release Thursday. Goldman Sachs analysts reiterated their buy rating on the stock and raised their price target to $860 from $750 on Thursday. The analysts said Intuit's execution across its core growth pillars is "reinforcing confidence" in its growth profile over the long term. The company's AI roadmap, which includes the introduction of AI agents, will add additional upside, the analysts added. "In our view, Intuit stands out as a rare asset straddling both consumer and business ecosystems, all while supplemented by AI-prioritization," the Goldman Sachs analysts wrote in a note. Analysts at Deutsche Bank also reiterated their buy rating on the stock and raised their price target to $815 from $750. They said the company's results were "reassuring" after a rocky two years and that they feel more confident about its ability to grow the consumer business. "Longer term, we continue to believe Intuit presents a unique investment opportunity and we see its platform approach powering accelerated innovation with leverage, thus enabling sustained mid-teens or better EPS growth," the analysts wrote in a Friday note.
Yahoo
23-05-2025
- Business
- Yahoo
Intuit Stock Jumps as AI-Fueled Growth Drives Q3 Beat, Hikes 2025 Forecast
May 23 - Intuit (NASDAQ:INTU) shares climbed about 8% in early Friday trading. The financial software provider topped consensus with Q3 revenue of $7.75 billion versus $7.57 billion expected, and non-GAAP EPS of $11.65 versus $10.93. Warning! GuruFocus has detected 7 Warning Signs with INTU. Management lifted full-year fiscal 2025 revenue growth guidance to 15%, up from 1213%. CEO Sasan Goodarzi credited the AI-driven expert platform for outstanding results across total company metrics. Goodarzi highlighted TurboTax Live's momentum, projecting a 24% rise in users and 47% revenue growth. He noted more than half of TurboTax customers now finish returns in under an hour thanks to AI automation and predictive insights. The CEO also previewed a refreshed end-to-end platform where AI agents will work alongside customers, with new product tiers and pricing due soon. He pointed to a recent mid-market win with an 18-entity title company that returned to Intuit after a competitor switch. CFO Sandeep Aujla reported Q3 GAAP operating income of $3.7 billion, up 20%, and non-GAAP operating income of $4.3 billion, up 17%. For Q4, Intuit sees revenue growth of 1718%, GAAP EPS of $0.840.89 and non-GAAP EPS of $2.632.68. Aujla said Intuit will continue leveraging AI to drive efficiency and long-term growth. Based on the one year price targets offered by 27 analysts, the average target price for Intuit Inc is $731.60 with a high estimate of $875.00 and a low estimate of $530.00. The average target implies a upside of +9.84% from the current price of $666.07. Based on GuruFocus estimates, the estimated GF Value for Intuit Inc in one year is $738.66, suggesting a upside of +10.90% from the current price of $666.07. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
23-05-2025
- Business
- Yahoo
Intuit Stock Jumps as AI-Fueled Growth Drives Q3 Beat, Hikes 2025 Forecast
May 23 - Intuit (NASDAQ:INTU) shares climbed about 8% in early Friday trading. The financial software provider topped consensus with Q3 revenue of $7.75 billion versus $7.57 billion expected, and non-GAAP EPS of $11.65 versus $10.93. Warning! GuruFocus has detected 7 Warning Signs with INTU. Management lifted full-year fiscal 2025 revenue growth guidance to 15%, up from 1213%. CEO Sasan Goodarzi credited the AI-driven expert platform for outstanding results across total company metrics. Goodarzi highlighted TurboTax Live's momentum, projecting a 24% rise in users and 47% revenue growth. He noted more than half of TurboTax customers now finish returns in under an hour thanks to AI automation and predictive insights. The CEO also previewed a refreshed end-to-end platform where AI agents will work alongside customers, with new product tiers and pricing due soon. He pointed to a recent mid-market win with an 18-entity title company that returned to Intuit after a competitor switch. CFO Sandeep Aujla reported Q3 GAAP operating income of $3.7 billion, up 20%, and non-GAAP operating income of $4.3 billion, up 17%. For Q4, Intuit sees revenue growth of 1718%, GAAP EPS of $0.840.89 and non-GAAP EPS of $2.632.68. Aujla said Intuit will continue leveraging AI to drive efficiency and long-term growth. Based on the one year price targets offered by 27 analysts, the average target price for Intuit Inc is $731.60 with a high estimate of $875.00 and a low estimate of $530.00. The average target implies a upside of +9.84% from the current price of $666.07. Based on GuruFocus estimates, the estimated GF Value for Intuit Inc in one year is $738.66, suggesting a upside of +10.90% from the current price of $666.07. This article first appeared on GuruFocus. Sign in to access your portfolio
