EVR-ISI Software: Daily Cloud Bytes (INTU Thoughts, SAP Expert Takeaways & More)

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EVR-ISI Software: Daily Cloud Bytes (INTU Thoughts, SAP Expert Takeaways & More)

Technology | Software

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May 20, 2026

Kirk Materne, CFA EVR-ISI Software: Daily Cloud Bytes (INTU

212 497 0873 Thoughts, SAP Expert Takeaways & More) kirk.materne@evercoreisi.com

Peter Levine EVR-ISI Software Daily Nugget: Good morning. INTU is set to report

212 497 0833 F3Q results after the close today, with TurboTax performance expected

peter.levine@evercoreisi.com to remain the primary area of focus, as current consensus calls for

Peter Burkly TurboTax revenue growth of 8.5% to $4.39bn. We believe INTU’s

212 497 0831 continued push toward a more comprehensive “done for you”

peter.burkly@evercoreisi.com experience, which we highlighted in our recent note, alongside earlier

Bill McNamara promotional pricing actions, could support incremental share gains

212 446 5626 during the recently completed tax season. While management has not

bill.mcnamara@evercoreisi.com

historically raised full year guidance ahead of F3Q results, we believe

Charlie Zhou there is potential for FY26 guidance to move modestly higher given

646-551-8513

healthy tax season dynamics. Beyond TurboTax, investors will likely charlie.zhou@evercoreisi.com

focus on evidence that AI investments are helping deepen adoption Vinod Srinivasaraghavan, CFA

646-551-8831 across IES and QuickBooks within targeted verticals, while also

Vinod.Srinivas@evercoreisi.com expanding the company’s longer term growth opportunity. Although not

embedded in expectations, any indication that Mailchimp is stabilizing

Weekly Video: and trending back toward double digit revenue growth could help

improve investor confidence in the business trajectory. Investors are

also likely to focus on Credit Karma trends following the platform’s