Intuit has projected stronger-than-expected third-quarter revenue, driven by growing demand for its AI-powered financial services and a busy US tax season.

The company's optimistic forecast sent its shares up nearly 5% in extended trading. Chief Financial Officer Sandeep Aujla expressed confidence in the firm's performance, highlighting a strong start to the tax season.

The company, known for TurboTax, QuickBooks, and Credit Karma, has been expanding its use of AI to enhance financial management and automation.

Intuit Assist, its AI-powered assistant, is integrated across its products to provide personalised financial recommendations and streamline tasks like bookkeeping. The firm recently launched an AI tool for QuickBooks to help small businesses manage tax and financial operations more efficiently.

Revenue for the second quarter reached$3.96 billion, surpassing Wall Street estimates, while adjusted earnings per share also exceeded expectations.

For the third quarter, Intuit expects revenue between$7.55 billion and$7.60 billion, above analysts' projections. However, its forecasted adjusted profit per share of$10.89 to$10.95 fell short of estimates. Despite this, the company reiterated its confidence in its full-year outlook.