It's tax season, and that's good news for Intuit, the company behind services like TurboTax, Credit Karma, Mailchimp and QuickBooks.
On Tuesday (Feb. 25) the company reported strong second quarter 2025 results, with its Global Business Solutions Group revenue growing by $2.7 billion, or 19%. Online Ecosystem revenue increased to $2 billion, up 21%.
"We are making great progress fueling the financial success of consumers, businesses and accountants with our AI-driven expert platform," said Intuit CEO Sasan Goodarzi. "Intuit Assist is delivering 'done-for-you' experiences to complete tasks, automate end-to-end workflows and connect customers to AI-powered human experts, powering their prosperity."
Artificial intelligence (AI) was the theme of both Intuit's fiscal year and Tuesday's investor call as executives stressed the benefits of its AI solutions designed to support small- to medium-sized business (SMB) owners.
"We continue to feel very optimistic about the full year, and I'm looking forward to having to continue to deliver a very strong tax season," Intuit CFO Sandeep Aujla said. "We delivered very strong second quarter fiscal 2025 results as we leverage AI to deliver breakthrough experiences for our customers and increase productivity across our platform."
Intuit shares were trading up mid-single digits after hours on the back of the most recent earnings.
Read more: TurboTax Debuts Early Refund Tool For Tax Season
By automating routine tasks and offering intelligent financial insights, AI solutions are simplifying business operations and supporting entrepreneurs focused on business growth and serving their customers.
According to a PYMNTS Intelligence report, "Strategic GenAI Integration Is Unlocking Higher ROI for CMOs," 37% of CMOs reported positive return on investment (ROI) from GenAI in October -- up from just 8.3% in July. These high-ROI companies are using GenAI in areas like product marketing, performance measurement and aligning strategies with business goals.
Where Intuit focuses is a little different. Thanks to AI tools designed for its customer base, executives highlighted that Intuit's Online Services revenue grew 19%, driven by growth in money, payroll and Mailchimp offerings; while QuickBooks Online Accounting revenue grew 22% in the quarter, driven by higher effective prices, customer growth and mix-shift.
One of the primary pain points for small business owners is the time-consuming nature of routine administrative tasks. Financial management, payroll processing and tax compliance are critical but often burdensome responsibilities.
Read more: Amazon Seller Central to Integrate Intuit QuickBooks for Financial Management
By automating these processes, businesses can save valuable time and reduce the risk of human error. This efficiency not only improves operational productivity but also provides entrepreneurs with more time to innovate and engage with their customers.
This is supported by findings revealed in "Innovators and Cost Cutters: Growth Strategies for SMBs," a PYMNTS Intelligence report, which showed that while 37% of SMBs on average use AI, 51% of those with increasing revenues use it. Businesses with increasing revenues, and those generating more than $1 million in revenue, are twice as likely to use AI as ones with decreasing or stable revenues.
Intuit's AI-platform, it claims, can auto-fill the majority of tax returns, minimizing manual data entry.
As AI continues to evolve, Intuit's ability to provide tailored, actionable insights could become a key differentiator. However, with increased reliance on AI, the company must also address concerns around data security and transparency to maintain customer trust.
For now, Intuit's announcement is being welcomed by small business communities eager to embrace technologies that can alleviate day-to-day operational challenges. The success of these new tools will likely depend on how seamlessly they integrate into existing workflows and their ability to deliver on the promise of simplicity and efficiency.
