Intuit — Financial Results
Intuit Delivered Broad-Based Revenue and Profit Growth in Fiscal 2025
| Metric | Fiscal 2025 | Fiscal 2024 | Change |
|---|---|---|---|
| Total revenue | $18.8B | $16.3B | +16% |
| Operating income | $4.9B | $3.6B | +36% |
| Net income | $3.9B | $3.0B | +31% |
| Diluted earnings per share | $13.67 | $10.43 | +31% |
Revenue grew across every segment, but profits grew even faster — a sign that Intuit is becoming more efficient as it scales. Operating income growing at more than twice the rate of expenses (9%) is a healthy signal for investors assessing whether the company can turn growth into real earnings.
Credit Karma Was the Standout Performer, More Than Doubling Its Profit
| Metric | Fiscal 2025 | Fiscal 2024 | Change |
|---|---|---|---|
| Credit Karma revenue | $2.3B | $1.7B | +32% |
| Segment operating income | $835M | $414M | +102% |
Credit Karma — the platform that helps consumers find loans, credit cards, and insurance — bounced back sharply, driven by a $221M jump in personal loans, $213M in credit cards, and $99M in auto insurance. This segment had been underperforming in prior years, so the recovery to over $800M in profit is a meaningful development worth tracking.
QuickBooks Online Is Charging More Per Customer and Growing Its Base
| Metric | Fiscal 2025 | Fiscal 2024 | Change |
|---|---|---|---|
| Total Global Business Solutions revenue | $11.1B | $9.5B | +16% |
| Online Ecosystem revenue | $8.3B | $6.9B | +20% |
| QuickBooks Online Accounting revenue | $4.1B | $3.4B | +22% |
| Online paying customers (growth) | — | — | +5% |
| Average revenue per online customer (growth) | — | — | +14% |
The Online Ecosystem (cloud-based QuickBooks, payroll, payments, and Mailchimp) is clearly the engine of growth. Importantly, revenue per customer grew at 14% while the customer count only grew 5% — meaning Intuit is successfully selling higher-value services to existing users, not just adding new ones. Payments and QuickBooks Capital (small business lending) were particularly strong contributors.
Restructuring Is Behind Them, Freeing Up Resources for Growth
In mid-2024, Intuit cut staff and closed offices to redirect resources toward technology and AI. The bulk of the $238M total restructuring charge hit fiscal 2024 ($223M), with only $15M landing in fiscal 2025. With that program now substantially complete, the drag on reported profits is gone and the company can reinvest in growth priorities without the distraction of a major reorganization.
Cash Generation Accelerated, Supporting Buybacks and Dividends
| Metric | Fiscal 2025 | Fiscal 2024 | Change |
|---|---|---|---|
| Cash from operations | $6.2B | $4.9B | +27% |
| Cash & investments on hand | $4.6B | $4.1B | +12% |
| Dividends paid | $1.2B | $1.0B | +20% |
| Shares repurchased | $2.8B | $2.0B | +40% |
Intuit generated $6.2B in operating cash flow (the cash the actual business produces, before investing or financing decisions), which is a strong indicator of underlying business health. The company returned roughly $4B to shareholders through buybacks and dividends in fiscal 2025, and the board has since authorized an additional $3.2B in repurchases.