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Intuit's AI-driven financial tools boost third-quarter revenue forecast
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Intuit's AI-driven financial tools boost third-quarter revenue forecast
Feb 25, 2025 1:33 PM

Feb 25 (Reuters) - TurboTax maker Intuit

forecast third-quarter revenue above Wall Street estimates on

Tuesday, betting on growing demand for its AI-driven financial

services software.

The ongoing tax season in the U.S. is also boosting demand

for Intuit's software as bulk of the tax filings are expected to

be made in the third quarter.

"We continue to feel very optimistic about the full year,

and I'm looking forward to having to continue to deliver a very

strong tax season," Intuit's Chief Financial Officer Sandeep

Aujla said.

The company provides financial management and compliance

products such as its tax-preparation software TurboTax, personal

finance portal Credit Karma and accounting software QuickBooks

for small businesses.

Its AI-powered assistant, Intuit Assist, is integrated

across its products, helping individuals and businesses by

providing personalized financial recommendations and automation

of specific tasks such as bookkeeping.

The company launched its AI-powered tool for QuickBooks in

November 2024 to help businesses manage taxes and other

financial tasks.

Intuit forecast third-quarter revenue between $7.55 billion

and $7.60 billion, compared with the average analyst estimate of

$7.51 billion, according to data compiled by LSEG.

However, its third-quarter forecast for adjusted profit per

share of $10.89 to $10.95 was below estimates of $11.48.

The company reported second-quarter revenue of $3.96

billion, beating estimates of $3.83 billion.

On an adjusted basis, Intuit earned $3.32 per share, ahead

of estimates of $2.58.

The company reiterated its forecasts for fiscal 2025.

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