Intuit CFO Dismisses AI Disruption Fears as Revenue Jumps 17%

Intuit CFO Dismisses AI Disruption Fears as Revenue Jumps 17%

Intuit's finance chief says artificial intelligence is strengthening—not threatening—the software maker's business model, pushing back against investor anxiety that sent cloud stocks tumbling earlier this month.

CFO Sandeep Aujla told Fortune that the company's core strategy around expert help, data insights, and managing customer cash flow is accelerating as AI tools mature, not eroding. The comments come as Intuit reported fiscal second-quarter results that beat Wall Street expectations, with revenue rising 17% year-over-year to $4.7 billion for the period ending January 31. Analysts had projected 14.5% growth.

The performance offers a counterpoint to what some investors dubbed "SaaS-mageddon"—a February sell-off driven by fears that agentic AI could undermine traditional per-seat software pricing. While market sentiment has begun recovering, the episode tested confidence across the cloud software sector, raising questions about whether AI assistants might replace, rather than complement, existing enterprise tools.

Aujla framed the anxiety as part of a familiar pattern. "I think what people are really missing is the durability of these business models," he said, pointing to past technology shifts from Y2K to the internet's rise that sparked similar predictions of collapse. For Intuit, which ranks No. 258 on the Fortune 500 and operates TurboTax, Credit Karma, and QuickBooks, the AI wave is playing out differently than the doom scenarios suggest.

The company's non-GAAP earnings per share hit $4.15, topping estimates, though third-quarter EPS guidance came in slightly below expectations even as revenue growth is projected to continue. Aujla attributed the results to execution on what he called "critical" priorities: serving customers, deepening Intuit's AI platform, and expanding upmarket.

His argument hinges on the nature of Intuit's customer base. Many are small-business owner-operators—people running bakeries or construction firms, as Aujla put it—who aren't looking to "sit at home and vibe code." Instead, they want end-to-end solutions that blend AI automation with human expertise, particularly for managing cash flow and making decisions based on benchmarked insights.

That positioning aligns with an emerging dynamic in enterprise software: large language model providers are increasingly partnering with established platforms rather than competing directly, especially in regulated financial environments where accuracy matters. "These LLMs are not looking to work against us. They're actually looking to work with us," Aujla said.

The collaborative approach suggests a more nuanced future for AI in business software than the replacement narrative that spooked investors. For CFOs watching the space, Intuit's results offer evidence that companies with deep customer relationships and domain expertise may be better positioned to integrate AI than to be disrupted by it—though the third quarter will test whether that thesis holds as competition intensifies.