Intuit (INTU) delivered a standout performance in the third quarter of fiscal 2025, reporting total revenue of $7.754 billion, a 15% increase year-over-year, driven by strength across all major segments. Profitability also improved notably, with GAAP operating income rising 20% to $3.720 billion, and non-GAAP operating income climbing 17% to $4.343 billion. Net income reached $2.820 billion, up 18%, while GAAP diluted EPS surged 19% to $10.02. On a non-GAAP basis, diluted EPS increased 18% to $11.65.

Year-to-date, Intuit has generated $15.0 billion in revenue, up 14%, with operating income up 21% to $4.584 billion and net income rising 17% to $3.488 billion. Diluted EPS stands at $12.33, also up 17%.

The Consumer Group posted $4.0 billion in revenue, growing 11% as TurboTax Live gained traction, expected to contribute $2.0 billion in full-year revenue (a 47% increase), with units up 24%. However, total TurboTax Online units are expected to dip ~1%, reflecting a strategic shift toward higher-value customers. Paying units are projected to grow 6%, and ARPR is up approximately 13%.

The Global Business Solutions Group reported $2.8 billion in revenue, a 19% increase, driven by a 20% rise in Online Ecosystem revenue. QuickBooks Online saw continued momentum, with accounting revenue up 21% and Online Services growing 18%. International growth remained steady at 8% (in constant currency).

Credit Karma saw a strong rebound, with revenue up 31% to $579 million and operating income surging 88% to $207 million. This strength was broad-based, with notable gains across credit card, personal loan, and auto insurance products. Segment margin expanded to 36%, up from 25% a year ago.

The ProTax Group grew modestly, with $278 million in revenue, up 9%.

Margins also improved, with the overall GAAP operating margin reaching 48%, while the Consumer Group delivered an 85% margin, up from 84%.

Reflecting its strong execution and favorable outlook, Intuit raised its full-year guidance. It now expects total revenue between $18.723 billion and $18.760 billion (up ~15%), and GAAP operating income between $4.898 billion and $4.918 billion (up ~35%). GAAP EPS is forecast at $13.19–$13.24, representing ~26–27% growth, while non-GAAP EPS is projected at $20.07–$20.12, up ~18–19%. Segment guidance was raised across the board, with Credit Karma now expected to grow ~28%, significantly above the prior 5–8% range.

Management credited the strong quarter to AI-driven innovation, successful execution during the tax season, and an ongoing shift to premium offerings. CEO Sasan Goodarzi highlighted “exceptional momentum” across Intuit’s platform, while CFO Sandeep Aujla pointed to outstanding performance in Global Business Solutions and Credit Karma as catalysts for the revised outlook.

The company ended the quarter with $6.2 billion in cash and investments and $6.4 billion in debt. It repurchased $754 million in stock during Q3, with $2.8 billion remaining under its current authorization. The quarterly dividend was raised 16% to $1.04 per share, payable July 18, 2025.

Overall, Intuit’s third quarter marked a period of strong growth, strategic progress, and enhanced profitability, reinforcing confidence in its outlook for the remainder of fiscal 2025.