Intuit Delivers Exceptional Q3 Fiscal Year 2025 Results, Raising Guidance Across All Key Metrics
Intuit, the leading global technology platform for small and mid-market businesses, consumers, and accountants, has delivered an outstanding quarter in its Third Quarter Fiscal Year 2025 Conference Call. According to CEO Sasan Goodarzi, the company's revenue growth of 15% was driven by excellent performance across its platform.
The exceptional tax results were highlighted as a key area of success for Intuit. The company reported an expected 10% growth in Consumer Group revenue this year, with TurboTax Live customers experiencing a 47% increase in revenue, exceeding the long-term expectation of 15% to 20% revenue growth. This is a testament to the effectiveness of Intuit's investment in data, AI, and AI-enabled human expertise.
The seamless integration of TurboTax and Credit Karma also yielded impressive results, with an expected 1 point of consumer revenue growth this year. The power of Intuit's consumer platform was demonstrated through strong execution of its strategy to win as an AI-driven expert platform by delivering the best experience, speed to money, and the best price for customers.
One notable achievement in tax season was the success of done-for-you experiences. Data and AI powered these elements of the customer experience, driving a 12% reduction in the average time a customer spent on their return. Moreover, more than half of Intuit's do-it-yourself and do-it-with-me customers completed their returns in under 1 hour.
The impact of data and AI on the productivity of experts was also significant, allowing them to focus on engaging with customers rather than solely preparing tax returns. The full service offering saw a double-digit improvement in conversion, along with an approximate 20% reduction in the amount of time an expert spent preparing a return.
In other areas, Intuit's mid-market business platform showed progress, and the company is poised to fuel the financial success of approximately 100 million customers by automating everyday tasks, managing complex workflows and processes, and providing predictive insights. As the pace of innovation accelerates at Intuit, its AI agents and human experts are redefining what's possible.
Overall, Intuit's Third Quarter Fiscal Year 2025 results demonstrate a clear commitment to delivering exceptional value to customers and stakeholders alike. The company's innovative solutions and strong execution have led to impressive growth across various metrics, solidifying its position as a leader in the global technology platform market.
