Intuit forecasts annual revenue above estimates on AI-driven financial tools

(Reuters) - Intuit (INTU) forecast fiscal 2025 revenue above Wall Street estimates on Thursday, banking on growing demand for its AI-driven financial management tools amid recent price increases.

Shares of the Mountain View, California-based company rose about 2% in extended trading as it also announced a new $3 billion repurchase authorization.

Intuit, known for products like TurboTax, Credit Karma, and QuickBooks, has benefited from growing demand for its AI-powered offerings, which provide personalized financial recommendations and automation of specific tasks such as bookkeeping.

Earlier this month, Intuit implemented price increases for QuickBooks, introducing new features to entice customers.

"Our momentum both in the first quarter and going into next year is coming from our customer growth both with QuickBooks Online and QuickBooks Advanced," Chief Executive Sasan Goodarzi told Reuters in an interview on Thursday.