Intuit reported a 15% revenue increase in Q3, reaching US$7.75 billion, beating analysts’ expectations of US$7.56 billion.

For Q4, it expects revenue between US$3.72 billion and US$3.76 billion, above the US$3.51 billion estimate. Adjusted profit per share is projected between US$2.63 and US$2.68, topping the US$2.59 projection.

The strong Q3 was driven by the tax-filing season and TurboTax usage.

Intuit raised its fiscal 2025 revenue growth forecast to 15%, up from 12%–13%. While TurboTax Online units are expected to decline by 1%, paying units are forecasted to rise by 6%.

Chief financial officer (CFO) Sandeep Aujla said Intuit will launch AI agents for QuickBooks. Users can choose specialized agents like accounting or finance, available for an extra fee.

🔗 Source: Reuters

🧠 Food for thought

1️⃣ AI adoption accelerating across financial services

Intuit’s AI agent strategy aligns with broader industry adoption trends, where 57% of finance professionals are already using AI tools to enhance workflows and improve data governance 1.

The AI market in finance is experiencing substantial growth, valued at $9.45 billion in 2021 and projected to grow at 16.5% annually through 2030, creating a competitive landscape for companies like Intuit 2.

This adoption is reflected in tax departments specifically, where 88% of professionals expect AI to be integrated into their daily work within five years, despite 57% of organizations still describing their technology posture as chaotic or reactive 3.

Intuit’s AI-driven revamp of its product lineup comes as industry reports show financial organizations are increasingly seeking technologies that enhance automation, compliance monitoring, and personalized client experiences 4.

The company’s decision to launch AI agents that can take actions for users addresses a growing market demand for solutions that reduce manual effort and provide strategic insights, a trend highlighted across multiple industry analyses.

2️⃣ Product differentiation through specialized AI capabilities

Intuit’s strategy to offer specialized AI agents (accounting, finance) that customers can select based on specific needs mirrors the industry’s move toward more tailored financial technology solutions.

This approach allows Intuit to potentially capture greater market share in the rapidly expanding tax software market, projected to grow from $21.7 billion in 2024 to $24 billion in 2025, driven by increasing demand for digital filing and compliance solutions 5.

Recent Intuit developments