Latest news with #TurboTaxLive
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
Yahoo
26-05-2025
- Business
- Yahoo
Barclays Raises Intuit (INTU) PT to $815, Cites Stability in Tax Division
On Friday, Barclays increased its price target for Intuit Inc. (NASDAQ:INTU) from $775 to $815, while maintaining an Overweight rating on the shares. This adjustment follows Intuit's robust fiscal Q3 results, which saw strong performances from both Credit Karma and the Consumer segment. A professional tax preparer, using a laptop to complete an income tax return. Credit Karma is a personal finance platform, whereas the Consumer segment focuses on individual tax preparation, primarily through TurboTax. Intuit increased its revenue by 15% year-over-year in FQ3 to make $7.8 billion. The Consumer Group revenue alone grew 11% to make $4 billion, with TurboTax Live revenue specifically projected to grow 47%. Credit Karma also showed strong growth, with revenue up 31% due to strength in credit cards, personal loans, and auto insurance. Intuit Inc. (NASDAQ:INTU) has now raised its fiscal 2025 guidance across multiple metrics. Revenue growth guidance was increased to 15% from the previous 12% to 13%. Barclays particularly noted increased confidence in Intuit's business strength due to stability returning to the tax division. However, the company anticipates a 1% decline in online TurboTax units this fiscal year, with its share of total returns decreasing by ~1 point. While we acknowledge the potential of INTU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than INTU and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
24-05-2025
- Business
- Yahoo
BMO Capital Maintains Outperform Rating on Intuit (INTU) After Q3 Report
On May 23, BMO Capital lifted the price target on Intuit Inc. (NASDAQ:INTU) stock from $714 to $820, keeping its Outperform rating on the shares. Daniel Jester from BMO Capital raised INTU's price target after the company delivered strong Q3 2025 results and increased its FY2025 guidance. Intuit Inc. (NASDAQ:INTU) posted a 15% revenue growth year-over-year, achieving a total revenue of around $7.8 billion, exceeding estimates by $192 million. Driven by strong performance across its platforms, the company experienced 47% revenue growth in the TurboTax Live business and a 31% rise in the Credit Karma business. The robust growth across the Karma business was driven by an increase in credit cards, personal loans, and auto insurance. A professional tax preparer, using a laptop to complete an income tax return. Intuit Inc. has raised its guidance for all its company metrics, including revenue, operating income, operating margin, and earnings for FY2025. The company now expects a 15% revenue growth this year from the previous guidance of 12-13%. Jester remains optimistic about INTU after the guidance upgrade and believes that the consumer segment growth is trending towards 10% this year, driven by Intuit's TurboTax Live. Intuit Inc. (NASDAQ:INTU) is a leading financial technology firm that offers financial management, compliance, and marketing products and services to consumers and small and mid-market businesses. It operates through four segments, including Credit Karma, Consumer, Small Business & Self-Employed, and ProTax. While we acknowledge the potential of INTU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than INTU and that has 100x upside potential, check out our report about this cheapest AI stock. Read Next: and . Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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
