Cost-conscious customers giving up on TurboTax sent Intuit shares sliding in early Wednesday trade.
Intuit Inc (NASDAQ:INTU, XETRA:ITU), the US financial software company behind TurboTax, QuickBooks, Credit Karma and Mailchimp, beat expectations for its fourth quarter and then watched its shares fall sharply in extended trading. The stock dropped $36.58, or 10.23%, to $320.88 after hours, having already closed the regular session down 3.37% at $357.46.
Businesses and accountants are deploying the artificial intelligence-powered tools offered as part of Intuit Intelligence, Intuit Chairman and CEO Sasan Goodarzi said Tuesday (Aug. 25) during an earnings call.
The company said it expects revenue to increase 9% to 10% for fiscal 2027, slowing from 14% this year, as it recorded a lower profit in its latest quarter.
Financial software firm Intuit handily beat Wall Street's targets for its fiscal fourth quarter but disappointed with its guidance.
Intuit forecast annual revenue below Wall Street expectations on Tuesday, as the TurboTax maker said its push for customer growth and market-share gains would weigh on near-term sales.
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Intuit Inc. (Nasdaq: INTU) the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, Mailchimp, and Intuit Enterprise Suite, announced financial results for the fourth quarter and full fiscal year 2026, which ended July 31, 2026. “We surpassed $20 billion in revenue for the full year with growth fueled by our Big Bets ...