The quarter beat the standing bar. Q4 revenue was $4.354 billion versus a pre-release consensus of roughly $4.27 billion, while non-GAAP EPS reached $4.03 versus about $3.58 expected — a clear revenue beat and a larger earnings beat.
| Metric | Q4 FY26 | Q4 FY25 | External expectation |
|---|---|---|---|
| Revenue | $4.354B (Income Statement) | $3.831B (Income Statement) | ~$4.27B consensus |
| GAAP diluted EPS | $1.34 (Income Statement) | $1.35 (Income Statement) | — |
| Non-GAAP diluted EPS | $4.03 (Non-GAAP reconciliation) | $2.75 (Non-GAAP reconciliation) | ~$3.58 consensus |
| FY27 revenue guidance | $23.279B-$23.512B (Forward-Looking Guidance) | $21.448B FY26 actual (Income Statement) | — |
| FY27 non-GAAP EPS guidance | $22.88-$23.12 (Forward-Looking Guidance) | $24.27 FY26 actual, under prior definition (Non-GAAP reconciliation) | — |
Underlying growth remained led by the business segments investors care about most. Full-year Global Business Solutions revenue rose 16% to $12.9 billion, and Online Ecosystem revenue rose 19% to $9.9 billion; excluding Mailchimp, those growth rates were 18% and 23%, respectively.
The FY27 outlook is constructive, but the adjusted-EPS comparison has been deliberately reset. Intuit guided to 9%-10% revenue growth and 23%-24% non-GAAP EPS growth, with Mailchimp now reported separately. However, beginning in FY27, share-based compensation is no longer excluded from non-GAAP measures; the company says that change embeds roughly $2.0 billion of annual compensation expense and $5.81 per share in the new adjusted-EPS framework. 〔0〕 That makes the FY27 adjusted-EPS growth rate less directly comparable with FY26’s $24.27 figure, which excluded stock compensation.
Capital returns were aggressive, but the balance sheet now carries more debt. Intuit repurchased $5.5 billion of stock during FY26, reducing diluted shares by 2%, while total debt stood at $7.7 billion against $7.2 billion of cash and investments. The net read is still a genuine earnings beat, though the new reporting convention makes the forward adjusted-profit story harder to judge cleanly.
Read the original 8-K on SEC EDGAR ↗