Intuit FY26 slides show margin gains, but FY27 outlook signals slowdown

Intuit Inc. (NASDAQ:INTU) delivered its fiscal 2026 results on August 25, 2026, showcasing impressive growth and expanded operating margins. Despite strong performance, the company's outlook for fiscal 2027 signaled a slowdown, with revenue projections growing by just 9-10% compared to the robust 14% increase seen in the previous fiscal year.

This marked a significant shift in how Intuit reported its business, with Mailchimp now treated as a standalone segment and share-based compensation included in non-GAAP measures moving forward. The company reported total revenue of $21.4 billion, up 14% year-over-year, with operating income up 20% to $5.9 billion in GAAP terms and 18% to $8.9 billion in non-GAAP terms.

Revenue growth was steady throughout the year, with Q4 delivering the highest growth rate of 14%. Operating margins improved notably, with non-GAAP operating margin expanding by 1.5 percentage points to 41.7% for the year. Earnings per share also grew 20%, reaching $16.46 and $24.27 respectively in diluted and non-diluted measures.

Despite heavy investments in AI and customer acquisition, Intuit maintained strong profitability across its business units. Global Business Solutions, including QuickBooks Online, grew 18% to $11.6 billion, while Online Services, excluding Mailchimp, achieved 24% growth to $3.6 billion. The Consumer segment, which includes TurboTax, Credit Karma, and ProTax, grew 11% to $8.6 billion, with TurboTax growing 7% and Credit Karma posting stronger 20% growth.

However, Mailchimp's revenue declined by 1% year-over-year, marking the only segment with contraction. The company expects a 9-10% revenue growth in fiscal 2027, with Global Business Solutions expected to grow 13-14%, the Consumer segment 4-6%, and Mailchimp guidance of flat to slightly negative growth.