Intuit Accelerates Growth with AI-Driven Expert Platform Strategy
Intuit, the global leader in artificial intelligence-driven expert platform strategy, has made a strong start to the year, growing revenue by 10% in its first quarter of fiscal year 2025. The company's Global Business Solutions Group online ecosystem revenue grew by 20%, while Credit Karma revenue increased by 29%.
The growth is a testament to Intuit's successful transformation from a tax enacting platform to an AI-driven expert platform, enabled by access to AI-powered human services and its large network of AI-powered virtual experts. The company's CEO, Sasan Goodarzi, emphasized that the future is here and it's AI-driven, fundamentally transforming every part of our work and personal life.
Intuit's strategy is centered around creating 'done for you' experiences where customers are always in control, enabled by AI. This approach has given the company a significant competitive advantage with its scale of data, data services, AI capabilities ecosystem of applications, and large network of AI-powered virtual experts.
One of Intuit's Big Bets is focused on helping consumers make smart money decisions, take steps to improve their financial health year-round, see their best tax outcome, and accelerate the receipt of their refund. The company has made significant progress in this area, improving value for low-income filers, accelerating growth with more complex filers, and offering faster access.
Intuit is also driving year-round engagement with its consumer platform, accelerating money benefits, including refund access, and growing at Credit Karma across its verticals such as prime and insurance. This approach accelerates monetization and demonstrates the power of Intuit's AI-driven expert platform strategy in delivering tangible benefits for customers and fueling the company's growth.
The company has also made significant progress on its business platform, revolutionizing speed to benefit with its Gen AI-powered financial assistance, Intuit Assist. The product is now generally available to all U.S. QuickBooks Online customers, using AI agents to automatically turn e-mails, electronic documents, and handwritten notes into estimates, invoices, and bills. It also spots potential cash flow shortages in real-time and suggests solutions like applying for a line of credit.
With its strong start to the year and confidence in its strategy, Intuit is reiterating its full-year guidance, aiming for double-digit revenue growth and margin expansion this year.
