Intuit Just Had Its Best Quarter in 10 Years… Thanks to One Word (You’ll Never Guess)

There are a few things in life you can set your watch to. The McRib mysteriously reappearing every fall. Hallmark squeezing every last tear out of your soul during Christmas. Starbucks giving America its yearly identity crisis over pumpkin spice. And Intuit? Well, Intuit owns tax season like Mariah Carey owns December. This year was no different… and yet, somehow, even bigger.

Intuit, the company behind TurboTax, QuickBooks, Credit Karma, and Mailchimp (yes, they own that too), just posted a monster fiscal Q3. Revenue for the quarter jumped 15% year-over-year to $7.8 billion, the fastest organic growth Intuit has reported in more than a decade, according to CEO Sasan Goodarzi. Which is wild considering their business model is mind blowingly simple: confuse Americans just enough to make them pay us to do the government’s job.

Even more impressive was that net income rose too, up 18% to $2.82 billion, or $10.02 per share, compared to $8.42 a year ago. Wall Street took the hint. The stock jumped 7% on the news, stacking on top of the 8% gain it had already racked up this year.

But this year was a little more bullish than normal, in addition to capitalizing on tax panic… they’re transforming their entire business around, you guessed it AI, too. Goodarzi says the company is transforming into a one-stop shop powered by AI agents and AI-enabled human experts. That includes everything from smarter bookkeeping in QuickBooks to more intuitive help during the tax filing process. In other words, Intuit wants to be the platform you go to whether you’re a small business trying to stay organized or a stressed-out freelancer trying to remember if dog food is a deductible expense (it’s not… unless your dog’s in commercials).

Wall Street loves a winner, especially one that prints piles of cash and drops “AI” every third sentence. Goldman Sachs hiked their price target to $860, calling Intuit a “rare asset” that plays both sides of the consumer and business fence. Deutsche Bank raised their target to $815, calling the results “reassuring” (whatever that means).

Oh and guidance is also part of the story. Intuit bumped their full-year revenue forecast to $18.72–$18.76 billion, up from the previously polite $18.16–$18.35 billion. And adjusted earnings per share is now expected to land between $20.07 and $20.12. I guess, charging people to do fourth-grade math at scale is a killer business model. And the best part is unlike most companies, they’re not pulling these numbers out of thin air. They’ve got receipts. Literal ones. Yours, mine, everyone who pays taxes.

If Intuit was only a tax-season company, we wouldn’t be here. But they’ve evolved into a recurring ritual. Like spring allergies or freaking out over whether you checked the right box on your return, they’ve become part of the American cycle. And now, they’ve built a high-margin, AI-powered machine to make the margins even bigger. So long, Intuit, see you next tax season.

PS: It’s a mess out there.

One day the market’s ripping, the next day it’s Black Monday all over again. Recent earning’s reports have been a total coin flip. One stock beats and explodes 30%… the next misses by a penny and gets sent to the Shadow Realm. And through it all, everyone’s begging for Jerome Powell to finally cave and cut rates.

But underneath all the panic headlines (“Inflation too sticky!” “Recession imminent!” “Tariffs round 4 incoming!”) something wild is happening…

We’re seeing violent price action. Especially in the small-cap space, where low floats and high anxiety are creating the perfect recipe for 100%+ pops before lunchtime. Some of these names are moving 200%+ in under 24 hours… and to our knowledge, NO ONE else is covering them.

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Stock.News has positions in Starbucks.