Intuit (INTU) Morgan Stanley Technology, Media & Telecom Conference 2026 summary

Financial performance and growth drivers

• Achieved 17% top-line growth in Q2, with business platform up 18% and mid-market segment up 40%.

• Consumer platform grew 15%, TurboTax up 12% despite IRS filings being down 5%.

• Credit Karma contributed 23% growth, with strong performance across all segments.

• Margin expansion attributed to tech-led, AI-driven expert platform strategy.

• Total addressable market (TAM) is over $300 billion, with current penetration at 6%.

AI and human intelligence (HI) platform strategy

• AI and HI combination is unlocking TAM, accelerating ARPC, and expanding margins.

• Platform delivers certainty and confidence for high-stakes financial decisions.

• AI-enabled experts (“super humans”) increase efficiency and customer willingness to pay.

• Gross margins for TurboTax Live are higher than overall company margins.

• QuickBooks Live HI adoption up 50% year-over-year, driving attach rates and subscription price changes.

Go-to-market improvements and customer experience

• Addressed local presence by launching 600 service centers and flagship stores.

• Improved customer conversion rates through enhanced local search and reduced onboarding friction.

• Over 5.1 million visitors to local landing pages by early February, up from 4.2 million last year.

• Enhanced expert matching and fast money access via Credit Karma.

• Focus on elite customer experiences and ongoing improvements.