On May 26, Intuit fell 3.44% in regular trading, trading at $313.72/share, with trading volume of $546 million. The stock continued its post-earnings decline as negative sentiment from its fiscal Q3 report remained unresolved.
Intuit reported fiscal Q3 revenue of $8.56 billion, up 10% year-over-year — its slowest growth rate since 2024 — slightly missing consensus estimates of $8.61 billion. Adjusted EPS of $12.80 beat expectations of $12.57. Simultaneously, the company announced a 17% global workforce reduction of approximately 3,000 employees, closure of two U.S. offices, and $300-$340 million in restructuring charges. TurboTax standard product revenue declined mid-teens year-over-year, driven by fewer filers and pressure from low-income self-preparation users, prompting the company to cut its tax revenue growth guidance from 8% to 7%.
While Intuit raised its full-year revenue guidance to $21.34-$21.37 billion and partnered with OpenAI and Anthropic for AI integration, persistent market anxiety over AI potentially displacing traditional tax and financial software continues to weigh on valuation. The stock has declined over 40% year-to-date, significantly underperforming the broader market.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments