Intuit Inc., a global financial technology platform, recently reported a 19 percent increase in revenue for its Global Business Solutions Group in the second quarter of fiscal 2025. The company, known for products like TurboTax, Credit Karma, QuickBooks, and Mailchimp, saw total revenue grow to $4.0 billion, with the Global Business Solutions Group revenue reaching $2.7 billion, up by 19 percent. Online Ecosystem revenue also increased to $2.0 billion, a 21 percent growth.
CEO Sasan Goodarzi credited the company’s AI-driven platform, Intuit Assist, for delivering ‘done-for-you’ experiences that have powered the financial success of consumers, businesses, and accountants. The company also reported significant growth in Credit Karma revenue, which soared by 36 percent to $511 million.
In terms of financial highlights, Intuit saw a 17 percent increase in total revenue, while GAAP operating income grew by 61 percent to $593 million. Non-GAAP operating income also increased by 26 percent to $1.3 billion. The company reported growth in both GAAP and non-GAAP diluted earnings per share.
With a strong performance in the second quarter, Intuit reiterated its full-year guidance for fiscal 2025. The company expects double-digit revenue growth, expanding margins, and growth in various segments including Global Business Solutions Group, Consumer Group, ProTax Group, and Credit Karma.
Overall, Intuit’s financial results reflect the company’s focus on leveraging AI technology to enhance customer experiences and achieve business growth. Investors and stakeholders can look forward to continued success and innovation from Intuit in the upcoming quarters.