Intuit Reports Fourth Quarter and Full Year Fiscal 2026 Results; Sets Fiscal 2027 Guidance

Fiscal 2026 Results

Intuit announced financial results for the fourth quarter and full fiscal year 2026, which ended July 31, 2026. The company reported fourth-quarter revenue of $4.4 billion, up 14% year over year, and full-year revenue of $21.4 billion, also up 14%. GAAP operating income increased 20% to $5.9 billion for the year, while non-GAAP operating income rose 18% to $8.9 billion. GAAP earnings per share grew 20% to $16.46, and non-GAAP EPS increased 20% to $24.27.

Chairman and CEO Sasan Goodarzi highlighted the revenue milestone: "We surpassed $20 billion in revenue for the full year with growth fueled by our Big Bets which collectively grew 34 percent and represented 30 percent of full-year revenue." CFO Sandeep Aujla added that fiscal 2026 "demonstrated the strength of our platform and the growing contribution of our Big Bets."

Segment Performance

Global Business Solutions revenue increased 16% to $12.9 billion, and excluding Mailchimp, it grew 18%. Online Ecosystem revenue rose 19% to $9.9 billion, or 23% excluding Mailchimp. The widest gap was in Online Services, which grew 16% as reported but 24% excluding Mailchimp. Consumer revenue increased 11% to $8.6 billion.

TurboTax revenue increased 7% to $5.3 billion, with TurboTax Live revenue up 37% and representing 53% of total TurboTax revenue. TurboTax handled 39 million US federal returns, down from 39.9 million the prior year, with desktop units falling 7% to 4.1 million. Credit Karma revenue increased 20% to $2.6 billion, and ProTax revenue grew 4% to $647 million. QuickBooks Online Accounting revenue increased 23% for the full year. Total international online revenue rose 10% on a constant currency basis.

Mailchimp as a Separate Segment

Effective August 1, 2026, Intuit began running Mailchimp as a separate operating segment, and it becomes a separate reportable segment in fiscal 2027. In its first standalone forecast, Intuit guided Mailchimp revenue of $1,256 million to $1,266 million for fiscal 2027, representing growth of minus 1% to zero. The company pointed readers to its investor fact sheet for further detail.

Intuit did not publish standalone Mailchimp revenue for fiscal 2026 in the release, so the only hard number provided for Mailchimp is next year's forecast.

The Next Web noted that the rest of the company's growth figures are frequently quoted with a Mailchimp exception, and it compared Mailchimp's position to competitors Klaviyo and HubSpot. It also referenced Salesforce's $3.6 billion acquisition of Fin, the Intercom-born support-AI firm, in the context of competitive pressures.

Guidance and Changes

For fiscal 2027, Intuit guided revenue of $23,279 million to $23,512 million, representing growth of 9% to 10%. Non-GAAP EPS guidance was set at $22.88 to $23.12, compared to $24.27 reported for fiscal 2026.

A significant change is effective August 1, 2026: Intuit will no longer exclude share-based compensation expense from its non-GAAP financial measures. Share-based compensation was $2,056 million in fiscal 2026 and is expected to be $2,020 million in fiscal 2027, worth $5.81 per share.

Intuit also recorded a $293 million restructuring charge in the fourth quarter, compared to $15 million in the previous fiscal year. The company described the restructuring plan as preliminary and subject to change. The Next Web noted that no headcount, geography, or savings target was disclosed, and it observed that other companies—Zillow and Salesforce—have recently cut jobs without mentioning AI as the reason, though it did not connect these directly to Intuit.

The company's claim that its Big Bets grew 34% and represented 30% of full-year revenue was not supported by any table or reconciliation in the release, according to The Next Web. Intuit's press release did not provide such a breakdown.

Capital Allocation and Events

As of July 31, 2026, Intuit held $7.2 billion in cash and investments and $7.7 billion in total debt. The company issued $1.75 billion in senior notes in June 2026. During fiscal 2026, Intuit repurchased $5.5 billion of its stock, up 96% year over year, which drove a 2% reduction in weighted-average diluted shares outstanding. The board approved a quarterly dividend of $1.38 per share, payable October 16, 2026, a 15% increase.

Intuit will host a conference call on August 25 at 1:30 p.m. Pacific time and its annual Investor Day on September 17 at 8:00 a.m. Pacific time. The company has approximately 100 million customers worldwide.