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Intuit has reported an 18% rise in revenue to $3.89bn in the second quarter, driven by a 25% jump in QuickBooks revenue as more midsize firms adopted its artificial intelligence-enabled tools. Adjusted earnings per share came in at $3.34, beating analysts’ forecasts of $3.09. Net income more than doubled to $446m from $197m. The global business-solutions group, which includes QuickBooks, saw revenues increase 18% to $3bn, while consumer revenue rose 21% to $894m, supported by growth at Credit Karma. Intuit has reiterated full-year guidance for revenue growth of 12%-13%, and adjusted EPS between $22.98 and $23.18. Additionally, it has inked a multi-year deal worth more than $100m with OpenAI to use the ChatGPT maker's AI models to power the company's AI agents. Chief executive Sasan Goodarzi said the integration of Intuit apps within ChatGPT will involve "no revenue share", and customer data privacy and security principles will remain unchanged.
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