Intuit 2Q Revenue Surges Thanks to Key Segments

Intuit Reports Strong Revenue Growth in Latest Quarter

Intuit announced higher revenue in its latest quarter, thanks to growth in key segments. The company reported adjusted earnings of $2.63 per share, surpassing analysts’ estimates of $2.30 per share. Revenue saw an 11% increase, reaching $3.39 billion, in line with analysts’ expectations. While the company’s Consumer Group revenue experienced a 5% decline from the previous year due to the later opening of the Internal Revenue Service, Credit Karma revenue remained flat compared to the prior-year period. This is seen as a positive sign after the unit had been reporting declining revenue for several quarters.