| Financial results by reportable segment and significant product and service |
The following table shows our financial results by reportable segment for the periods indicated. | | | | | | | | | | | | | | | | | | | Twelve Months Ended July 31, | | (In millions) | 2026 | | 2025 | | 2024 | | Net revenue: | | | | | | | Global Business Solutions | $ | 12,864 | | | $ | 11,077 | | | $ | 9,533 | | | Consumer | 8,584 | | | 7,754 | | | 6,752 | | | Total net revenue | $ | 21,448 | | | $ | 18,831 | | | $ | 16,285 | | | | | | | | Segment cost of revenue and operating expenses(1): | | | | | | | Global Business Solutions | $ | 2,977 | | | $ | 2,601 | | | $ | 2,360 | | | Consumer | 2,276 | | | 1,994 | | | 1,740 | | | Total segment cost of revenue and operating expenses | $ | 5,253 | | | $ | 4,595 | | | $ | 4,100 | | | | | | | | | Operating income: | | | | | | | Global Business Solutions | $ | 9,887 | | | $ | 8,476 | | | $ | 7,173 | | | Consumer | 6,308 | | | 5,760 | | | 5,012 | | | Total segment operating income | 16,195 | | | 14,236 | | | 12,185 | | | Unallocated corporate items: | | | | | | | Share-based compensation expense | (2,056) | | | (1,968) | | | (1,915) | | | Other corporate expenses | (7,303) | | | (6,693) | | | (5,788) | | | Amortization of acquired technology | (174) | | | (156) | | | (146) | | | Amortization of other acquired intangible assets | (485) | | | (481) | | | (483) | | Restructuring charges (2) | (293) | | | (15) | | | (223) | | | | | | | | | Total unallocated corporate items | (10,311) | | | (9,313) | | | (8,555) | | | Total operating income | $ | 5,884 | | | $ | 4,923 | | | $ | 3,630 | |
(1) Cost of revenue and operating expenses primarily include direct expenses related to selling and marketing, direct costs associated with our product and service offerings, certain data science and analytics related costs and certain design and product management related costs. They exclude expenses that are recorded within unallocated corporate items, such as certain technology and customer success costs that support and benefit the overall platform and are managed at the corporate level. (2) Restructuring charges for the twelve months ended July 31, 2024 include $25 million in share-based compensation expense associated with a restructuring plan. See Note 15, “Restructuring,” for more information.
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| Segment reporting, significant service and product offerings |
Revenue classified by significant service and product offerings was as follows: | | | | | | | | | | | | | | | | | | | Twelve Months Ended July 31, | | (In millions) | 2026 | | 2025 | | 2024 | | Net revenue: | | | | | | | QuickBooks Online Accounting | $ | 5,051 | | | $ | 4,120 | | | $ | 3,379 | | | Online Services | 4,867 | | | 4,182 | | | 3,513 | | | Total Online Ecosystem | 9,918 | | | 8,302 | | | 6,892 | | | QuickBooks Desktop Accounting | 1,801 | | | 1,672 | | | 1,575 | | | Desktop Services and Supplies | 1,145 | | | 1,103 | | | 1,066 | | | Total Desktop Ecosystem | 2,946 | | | 2,775 | | | 2,641 | | | Global Business Solutions | 12,864 | | | 11,077 | | | 9,533 | | | TurboTax | 5,296 | | | 4,933 | | | 4,508 | | | Credit Karma | 2,641 | | | 2,200 | | | 1,645 | | | ProTax | 647 | | | 621 | | | 599 | | | Consumer | 8,584 | | | 7,754 | | | 6,752 | | | Total net revenue | $ | 21,448 | | | $ | 18,831 | | | $ | 16,285 | |
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