Intuit's Credit Karma revenue jumps 15% to $631M on loan demand

Intuit's Credit Karma posted $631 million in Q3 fiscal 2026 revenue, up 15% year over year, driven by personal loans and auto insurance.

"Credit Karma is becoming increasingly important to our strategy of building a year-round consumer finance platform," Intuit management said on the earnings call.

Personal loans, auto insurance and home loans led the gains. Management expects Credit Karma revenue to grow about 19% for the full fiscal year. Average revenue per user is 30% higher for customers who use both TurboTax and Credit Karma compared with TurboTax alone, and the platform contributed to a 54% increase in tax filers who begin their filing experience through Credit Karma.

The segment's growth comes as Intuit shares have fallen 40.9% over the past three months, pressured by concerns that AI could disrupt its tax and bookkeeping software. The company trades at 3.12 times forward sales, a discount to the industry average of 6.39 times. The Zacks Consensus Estimate for fiscal 2026 EPS has been revised up 2.5% to $23.79, implying 18.1% growth.

Credit Karma generates revenue primarily through partner-driven transactions, including cost-per-action fees when users complete actions such as obtaining a credit card or funding a personal loan, and cost-per-click or cost-per-lead revenue from mortgage and insurance advertising.

The platform competes with NerdWallet, which operates a personal-finance marketplace and content platform, and LendingTree, which generates the majority of its revenue from insurance quotes and agency policy sales.

The guidance raise signals that Intuit's cross-selling strategy is gaining traction beyond tax season. Investors will watch the fiscal Q4 earnings call for updated Credit Karma margin data and any impact from shifting interest rates on consumer loan demand.

This article is for informational purposes only and does not constitute investment advice.