Intuit Shares Rally on Q1 Beat, Strong Q2 Revenue Outlook and OpenAI Deal

Shares rose about 6% Friday after the company topped estimates and highlighted accelerating adoption of its AI tools. Fiscal Q1 revenue increased 18% to $3.89 billion and adjusted EPS reached $3.34, both ahead of Wall Street forecasts. For Q2, Intuit projected 14%–15% revenue growth, or $4.52 billion to $4.55 billion, and guided EPS to $3.63–$3.68 versus the $3.83 consensus. Management said AI agents are cutting workloads and speeding payments, citing its Accounting Agent saving up to 12 hours a month and its Payments Agent getting customers paid about five days faster. This week Intuit signed a multi-year OpenAI deal worth more than $100 million, named Bill McDermott and Adena Friedman to its board effective August 2026, set Sasan Goodarzi to become chair in January 2026, and raised the quarterly dividend 15% to $1.20.