Intuit (INTU) Rises on Earnings Beat, $100M OpenAI Deal and LA28 Olympic Partnership — What Investors Need to Know Today, November 21, 2025

Intuit Inc. (NASDAQ: INTU), the parent of TurboTax, QuickBooks, Credit Karma and Mailchimp, is in the spotlight this week after a wave of major announcements: a strong fiscal first‑quarter earnings beat, a multi‑year $100M+ partnership with OpenAI, a high‑profile LA28 Olympic Games sponsorship and a refreshed board stacked with prominent tech and fintech leaders. ^[1]

As of early afternoon on Friday, November 21, Intuit shares were trading around $637 per share.

Key takeaways for November 21, 2025

Blowout Q1 FY26: Revenue rose 18% year over year to $3.885 billion, with non‑GAAP EPS up 34% to $3.34, both topping Wall Street estimates. ^[2]
AI is the growth engine: Intuit reiterated its double‑digit revenue growth outlook for fiscal 2026 and forecast Q2 revenue growth of 14–15%, above consensus, driven by AI‑powered financial tools. ^[3]
$100M+ OpenAI partnership: A new multi‑year deal integrates Intuit’s apps (TurboTax, QuickBooks, Credit Karma and Mailchimp) into ChatGPT and deepens Intuit’s use of OpenAI’s frontier models via its GenOS AI platform. ^[4]
LA28 and Team USA deal: Intuit becomes a Founding Partner of the LA28 Olympic and Paralympic Games, with Intuit Dome hosting Olympic basketball and retaining its commercial name — a first in Olympic history. ^[5]
Board refresh and AI heavyweights: ServiceNow CEO Bill McDermott and Nasdaq CEO Adena Friedman will join Intuit’s board in 2026; CEO Sasan Goodarzi will also become board chair. ^[6]
Street reaction: Analysts at Stifel and Goldman Sachs have reiterated Buy ratings with price targets of $800 and $860 respectively, implying significant upside from current levels. ^[7]

Stock performance: Intuit holds gains after earnings and AI headlines

In Friday’s pre‑market session, Intuit stock was up nearly 4%, extending gains from Thursday evening after the company’s fiscal Q1 2026 earnings topped expectations and management emphasized accelerating adoption of its AI features. ^[8]

By early afternoon on November 21, shares were trading around $637, below recent highs near the mid‑$650s but still reflecting investor enthusiasm for the company’s AI‑driven strategy and new partnerships. ^[9]

The move comes in a volatile broader market: futures rebounded on Friday following sharp tech‑led declines the previous day, as investors digested concerns about an “AI bubble” alongside commentary from the New York Fed hinting at possible future rate cuts. ^[10]

Earnings recap: Q1 FY26 beats on revenue and profit

Intuit reported fiscal Q1 2026 results (quarter ended October 31, 2025) after the bell on November 20:

Revenue: $3.885 billion, up 18% year over year, versus roughly $3.76 billion expected by analysts. ^[11]
GAAP EPS: $1.59, more than double the prior‑year $0.70. ^[12]
Non‑GAAP EPS: $3.34, up 34% from $2.50 a year ago and ahead of consensus estimates around $3.09. ^[13]

Segment performance

Intuit’s diversified platform is firing on multiple cylinders: ^[14]

Global Business Solutions (QuickBooks & related services)
- Revenue: $3.0 billion, up 18%.
- Online Ecosystem revenue: $2.4 billion, up 21%.
- QuickBooks Online Accounting revenue grew 25%, helped by higher prices, customer growth and a favorable mix shift toward more advanced offerings.
- Online services for money and payroll grew 17%, while international online revenue rose 9% on a constant‑currency basis.
Consumer (TurboTax, Credit Karma & ProTax)
- Revenue: $894 million, up 21%.
- Credit Karma revenue increased 27% to $651 million, driven by demand for personal loans, credit cards and auto insurance.
- TurboTax revenue grew 6% to $198 million.
- ProTax revenue rose 15% to $45 million.

Management highlighted AI‑driven features — including personalized insights and automated workflows — as a key driver across both small business and consumer products. ^[15]

Guidance: strong top line, tempered EPS outlook

Intuit reiterated its full‑year fiscal 2026 guidance, signaling confidence in double‑digit growth: ^[16]

FY26 revenue: $20.997–$21.186 billion, growth of 12–13%.
GAAP operating income: expected to grow 17–19%.
Non‑GAAP operating income: expected to grow 14–15%.
Non‑GAAP EPS: $22.98–$23.18, up 14–15%.

For Q2 FY26 (ending January 31, 2026), Intuit guided to:

Revenue growth of ~14–15%, ahead of the ~12.8% growth analysts had penciled in.
Non‑GAAP EPS of $3.63–$3.68, below consensus of about $3.83, which weighed slightly on sentiment even as investors welcomed the stronger top‑line outlook. ^[17]

The company’s capital returns remain robust: it ended the quarter with $3.7 billion in cash and investments, $6.1 billion in debt, repurchased $851 million of stock (with $4.4 billion remaining under authorization) and approved a quarterly dividend of $1.20 per share, a 15% increase year over year, payable January 16, 2026. ^[18]

AI at the center: Intuit’s $100M+ OpenAI partnership

One of the most closely watched developments for Intuit this week is its multi‑year strategic partnership with OpenAI, announced on November 18. ^[19]

What the deal includes

According to Intuit and Reuters, the agreement is worth more than $100 million over multiple years and has two main components: ^[20]

Embedding Intuit apps into ChatGPT
- ChatGPT users will be able to access Intuit‑powered apps directly inside the chatbot experience.
- Supported brands include TurboTax, Credit Karma, QuickBooks and Mailchimp. ^[21]
- With user permission, these apps can surface personalized financial actions, such as:
  - Estimating tax refunds and answering tax questions based on a user’s financial data.
  - Evaluating credit card, loan and mortgage options based on spending patterns and approval odds.
  - Helping small businesses improve profitability with AI‑driven marketing campaigns, invoice reminders and tailored lending options.
Deepening Intuit’s use of OpenAI models via GenOS
- Intuit will expand its use of OpenAI’s latest frontier models inside GenOS, its proprietary generative AI operating system.
- Those models will power AI agents capable of tasks like cash‑flow forecasting, payroll management and tax preparation via natural‑language conversations. ^[22]

Intuit CEO Sasan Goodarzi called the partnership a “massive step forward” toward “financial intelligence,” combining Intuit’s proprietary financial data and credit models with OpenAI’s scale and technology. ^[23]

Market and analyst reaction

Reuters reported that Intuit shares rose about 3.4% in pre‑market trading on the day of the announcement, as investors welcomed the integration of Intuit’s roughly 100 million customers with ChatGPT’s vast user base. ^[24]

An AI‑generated summary from AInvest noted that: ^[25]

The deal is expected to drive deeper engagement with existing users and attract new ones via ChatGPT distribution.
Around 2.8 million customers are already using Intuit’s AI tools.
While growth in non‑core areas like Mailchimp and certain desktop products remains slower, AI‑powered features such as TurboTax Live and mid‑market ecosystem services are seeing outsized momentum.

Financial Times and The Wall Street Journal both framed the partnership as part of a broader push by OpenAI to deepen commercial integrations and by Intuit to solidify its position as an AI‑first financial platform. ^[26]

Brand power play: Intuit becomes a founding partner of LA28

On Friday morning, Intuit announced a multi‑year partnership with Team USA and the LA28 Olympic and Paralympic Games, becoming a Founding Partner and the official financial management software partner of the 2028 Games in Los Angeles. ^[27]

Key elements of the deal include:

Intuit Dome as an Olympic venue:
- The Intuit Dome in Inglewood — already home to the NBA’s LA Clippers under a long‑standing naming‑rights deal — will host five‑on‑five men’s and women’s basketball during LA28. ^[28]
- It will also be among the first Olympic venues ever to retain its commercial name, reflecting a shift in how the Games handle branding.
Small‑business supplier program:
- Intuit and LA28 will co‑create the Intuit & LA28 Small Business Supplier Program, helping local businesses access resources, mentorship and opportunities to provide services for the Games. ^[29]
Support for athletes and students:
- Select Team USA athletes will receive free tax preparation through TurboTax to support their financial wellbeing.
- Intuit will extend its financial education programs in Los Angeles schools to help students build real‑world money skills. ^[30]

Chief Marketing Officer Thomas Ranese framed the partnership as aligning with Intuit’s mission to “power prosperity,” while LA28 chair Casey Wasserman highlighted Intuit’s deep roots in Los Angeles and its support for small businesses as key reasons for the tie‑up. ^[31]

For investors, the LA28 deal is less about near‑term revenue and more about brand visibility and community impact, positioning Intuit at the center of a global event watched by billions.

Governance shake‑up: high‑profile names head to Intuit’s board

On November 20, Intuit announced a significant refresh to its board of directors: ^[32]

Bill McDermott, Chairman and CEO of ServiceNow, and
Adena Friedman, Chair and CEO of Nasdaq,

will join Intuit’s board effective August 1, 2026.

At the same time:

CEO Sasan Goodarzi will become CEO and Board Chair at Intuit’s 2026 annual meeting on January 22, 2026.
Director Vasant Prabhu will become Lead Independent Director.
Current Board Chair Suzanne Nora Johnson and board member Ryan Roslansky will step down. ^[33]

Goodarzi said McDermott and Friedman bring deep expertise in enterprise technology, fintech, capital markets and AI‑driven transformation — all central to Intuit’s ambition to be a “global AI‑driven expert platform.” ^[34]

For shareholders, the moves signal that Intuit is doubling down on AI, platform strategy and financial infrastructure expertise at the highest levels of governance.

Wall Street and institutional reaction

Analyst calls: upside to $800–$860

Following the earnings release, Stifel reiterated its Buy rating on Intuit with a $800 price target, noting that the stock’s current level around $637 implies “significant upside” and highlighting strong momentum in AI initiatives. ^[35]

The same report notes that Goldman Sachs has reaffirmed its own Buy rating with an even more bullish $860 target, citing Intuit’s growing AI‑enabled ecosystem and the new OpenAI partnership as key growth catalysts. ^[36]

Independent research from Finviz and Morningstar also emphasized that Intuit’s platform strategy and AI investments are creating durable growth, with Q3 calendar‑year results showing revenue up about 18% and non‑GAAP EPS comfortably ahead of expectations. ^[37]

Institutional flows: strong ownership, some rebalancing

Institutional ownership of Intuit remains high — around 83–84%, according to recent filings. ^[38]

Prudential PLC increased its stake by 9.6% in Q2, now holding 38,583 shares worth about $30.4 million at the time of filing. ^[39]
Quilter Plc slightly trimmed its position by 1.1% to roughly 170,592 shares, still one of its larger holdings by value. ^[40]

Such moves suggest ongoing institutional conviction in Intuit’s long‑term story, alongside normal portfolio rebalancing after a strong run in the stock.

Risks and what to watch next

Despite the positive headlines, investors should keep several risks and open questions in mind:

Earnings vs. expectations
- While revenue and Q1 EPS beat estimates, Q2 EPS guidance came below Wall Street forecasts, hinting at higher investment spend — especially around AI — and potential margin pressure in the near term. ^[41]
Execution on AI and OpenAI integration
- The OpenAI deal is large and strategically important, but its financial impact will depend on user adoption, regulatory scrutiny around data privacy, and Intuit’s ability to turn engagement inside ChatGPT into paying customers across its ecosystem. ^[42]
Mixed performance across segments
- While Credit Karma and core QuickBooks products are growing strongly, Mailchimp and some desktop‑oriented offerings have been slower, which could weigh on overall growth if not reaccelerated. ^[43]
Regulatory and reputational scrutiny
- Intuit has previously faced regulatory action and criticism around TurboTax marketing and the use of “free” tax‑filing claims, and continues to operate in a space closely watched by regulators for issues like data use, AI fairness and consumer protection. ^[44]
AI‑market volatility
- As recent market swings show, sentiment around “AI winners” can change quickly. Concerns about an AI bubble have contributed to broader tech volatility, and Intuit is now increasingly viewed as part of that AI trade. ^[45]

Bottom line

For November 21, 2025, Intuit stands at the intersection of three powerful narratives:

Fundamentals: Double‑digit revenue growth, strong Q1 execution and a reaffirmed full‑year outlook. ^[46]
AI transformation: A headline‑grabbing OpenAI partnership, expanding AI agents and a decade‑long investment in data and generative AI. ^[47]
Brand and governance: The LA28 founding partnership and the addition of high‑profile technology and financial leaders to the board. ^[48]

Analysts broadly see room for further upside if Intuit executes on its AI roadmap and maintains momentum across its ecosystem — though investors will be watching closely to see whether profit growth keeps pace with the company’s increasingly ambitious AI spend.

As always, this article is for informational purposes only and does not constitute investment advice. Investors should consider their own financial situation and risk tolerance, and consult a qualified professional before making investment decisions.

Is Intuit a Massive Buy Right Now? | Intuit Stock Analysis 2025