10:09 AM EDT, 05/23/2025 (MT Newswires) -- Intuit (INTU) delivered a "solid" fiscal Q3 from a "strong" tax season, with lower-quality Credit Karma revenue mainly driving the outperformance, RBC Capital Markets said in a note Friday.

The firm noted that Credit Karma revenue was $115 million above consensus, followed by the Consumer segment, which was ahead of consensus by $53 million.

RBC also noted that TurboTax Live customers increased 24% and revenue rose 47% due to "continued success of assist tax strategy."

The firm added that the company saw a robust monetization across simple and complex filers, boosting average revenue per return by 13%.

RBC raised its price target on Intuit to $850 from $760 and maintained its outperform rating.

The company's shares rose over 8% in recent trading.

Price: 721.28, Change: +55.21, Percent Change: +8.29