Intuit Inc NASDAQ:INTU Price, Chart, News & Insight

NASDAQ:INTU

Intuit Plunges 13% in Premarket as Massive Layoffs and Restructuring Charges Overshadow Strong Results

Intuit tumbled 13% in premarket trading today despite reporting a genuinely strong third quarter and raising full-year guidance, as investors focused almost entirely on a jarring announcement buried in the capital allocation section — a 17% reduction in its full-time workforce alongside $300 million to $340 million in restructuring charges.

The underlying financial results were hard to fault. Total revenue grew 10% to $8.6 billion. Consumer revenue rose 8% to $5.3 billion, with TurboTax up 7% to $4.4 billion and Credit Karma accelerating 15% to $631 million on strength in personal loans, auto insurance and home loans. Global Business Solutions grew 15% to $3.3 billion, with Online Ecosystem revenue up 19% and QuickBooks Online Accounting up 22%. GAAP diluted EPS rose 11% to $11.09 and non-GAAP diluted EPS grew 10% to $12.80. The company also received board approval for a new $8 billion share repurchase authorization and raised its quarterly dividend 15% to $1.20 per share.

Full-year guidance was raised across every metric, with total revenue now expected to grow 13% to 14% to approximately $21.36 billion, and non-GAAP diluted EPS growth of approximately 18% to $23.80 to $23.85.

None of that mattered to the market this morning. The workforce reduction announcement — framed as a move to simplify organizational structure and become a faster, leaner, more focused company — immediately raised questions about the nature of the restructuring. Coming from a company that has been vocal about its AI-driven expert platform strategy, the layoffs could be interpreted as AI beginning to displace human roles within Intuit itself, most notably in TurboTax Live where human experts assist customers. TurboTax Live revenue is expected to grow 36% to $2.8 billion for the full year, representing 53% of total TurboTax revenue — a business built on human expertise that may now be facing internal automation pressure.

The $300 million to $340 million in restructuring charges will largely hit Q4, depressing GAAP EPS for the quarter to just $0.73 to $0.79 despite healthy underlying business momentum.

The 13% premarket drop reflects a market unsettled by the scale and timing of the workforce reduction — a signal that even the companies building AI tools are not immune to the disruption those tools create.

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The Investor 05-21-26

Intuit Achieves FedNow Certification to Enable Instant Payments

Intuit Inc. announced it has completed certification for the Federal Reserve’s FedNow Service, allowing it to expand real-time payment capabilities for businesses.

The integration enables instant money movement across Intuit’s platform, helping small and mid-sized businesses get paid faster, manage cash flow more efficiently, and access funds immediately. Key features include instantly payable invoices, real-time payroll, and on-demand bill payments.

By connecting to FedNow, Intuit can partner with financial institutions to process instant transactions, reducing reliance on slower traditional systems such as ACH.

The company said the move supports its broader strategy to unify payments, payroll, and banking services, improving financial decision-making and operational efficiency for its customers.
Business Wire

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WS Investor 04-09-26

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Global Finance News 04-08-26

Intuit Inc. reported second-quarter fiscal 2026 revenue of $4.7 billion, up 17% year over year, and reiterated its full-year guidance, citing strong momentum across its AI-driven platforms.

GAAP operating income rose 44% to $855 million, while non-GAAP operating income increased 23% to $1.5 billion. GAAP diluted earnings per share climbed 49% to $2.48, and non-GAAP EPS grew 25% to $4.15. Global Business Solutions revenue rose 18% to $3.2 billion, with Online Ecosystem revenue up 21%. Consumer revenue increased 15% to $1.5 billion, driven by 23% growth at Credit Karma and 12% growth at TurboTax.

Intuit repurchased $961 million of stock during the quarter and raised its quarterly dividend 15% to $1.20 per share. The company reaffirmed full-year fiscal 2026 revenue guidance of $20.997 billion to $21.186 billion, representing growth of approximately 12% to 13%, alongside double-digit earnings growth expectations.

Source: Intuit Inc, Business Wire, February 26, 2026.

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Global Finance News 02-28-26

Intuit (Nasdaq: INTU) has entered a multi-year partnership with Anthropic to integrate Claude AI into its financial technology platform, enabling mid-market businesses to build secure, industry-specific AI agents and bringing Intuit’s financial expertise directly into Anthropic’s products.

Through integration of Anthropic’s Claude Agent SDK, businesses will be able to create customized AI agents on the Intuit platform tailored to their workflows, compliance needs and industry requirements. These agents can combine third-party operational data with Intuit financial data to automate insights, flag risks and support decision-making.

Intuit’s tax, accounting, finance and marketing capabilities — spanning TurboTax, Credit Karma, QuickBooks and Mailchimp — will also be accessible within Anthropic products including Claude*ai, Cowork and Claude for Enterprise. The companies said the collaboration will deliver personalized financial intelligence across both ecosystems.

In addition, Intuit will deploy Claude Code across its engineering organization to accelerate product development. The new AI-powered experiences are expected to begin rolling out in spring 2026.

Source: Business Wire, February 24, 2026.

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Global Finance News 02-24-26

Intuit (Nasdaq: INTU) announced a new campaign with Uber Advertising to support the expansion of TurboTax’s Human Intelligence (HI) service model, offering eligible customers a free Uber ride—up to $25—to one of nearly 600 TurboTax Expert Offices or 20 new retail stores.

The initiative is designed to promote TurboTax’s hybrid “done-for-you” tax experience, where Agentic AI automates data entry for most standard tax forms while local tax experts handle personalization and complex scenarios. The company says the model reduces friction by combining digital tools with in-person expertise in newly designed, stress-reducing retail locations.

To drive adoption, new or returning filers who did not use TurboTax Expert Full Service last year can access Expert Full Service (Federal and State) for a flat fee of $150 if they file by March 18, 2026.

The Uber ride offer is available in select U.S. markets through April 15, subject to promotional limits and conditions.

Source: Business Wire.

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WS Investor 02-19-26

Intuit (NASDAQ: INTU) has launched a new AI-powered Construction Edition for its Intuit Enterprise Suite, introducing a purpose-built ERP solution tailored to the $2 trillion construction industry.

The AI-native, end-to-end platform is designed specifically for mid-market construction businesses, unifying project management, financial operations and workflow automation in a single system. The solution aims to streamline complex operations, improve cash flow and enhance real-time performance visibility across projects and multiple entities. The new construction capabilities are also available as a module for QuickBooks Online Advanced customers.

According to Intuit, construction firms often face disconnected systems, manual processes and limited financial visibility. The Construction Edition addresses these challenges through features such as a Project Management Agent for tracking profitability and cash flow, enhanced project budgeting tools with AI-driven insights, proposal creation with integrated e-signatures, industry-standard cost group tracking and AIA-style invoicing at the project phase level.

The launch marks Intuit’s first industry-specific ERP under the Enterprise Suite platform and reflects a broader strategy to deliver vertical-focused solutions. In addition to the construction features, Intuit introduced new Enterprise Suite enhancements, including an expanded Sales Tax Agent with automated filing pre-check tools, modernized business intelligence dashboards, deeper third-party integrations and improved migration tools for QuickBooks Desktop users.

The construction capabilities are currently available in beta for Enterprise Suite customers in the construction sector at no additional cost and as a paid add-on for QuickBooks Online Advanced users.

Source: Business Wire

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WS Investor 02-12-26

Intuit announced a major set of product enhancements for Mailchimp aimed at helping ecommerce businesses drive profitable growth through unified data, automation and AI-powered marketing.

The new capabilities combine email, SMS and messaging with a single view of customer data, enabling merchants to launch omnichannel campaigns with clearer attribution and ROI tracking. Intuit said Mailchimp users can achieve up to 30x ROI by activating consented ecommerce data across channels without added cost or complexity.

Key updates include an expanded Site Tracking Pixel, deeper integrations with platforms such as Shopify and review tools, broader SMS availability across 34 additional EMEA markets, a new omnichannel performance dashboard, and improved migration tools for customers switching from other platforms. AI-driven features add predictive insights, automated content creation and campaign optimization across email and SMS.

The ecommerce-focused enhancements are rolling out globally starting February 10, 2026, positioning Mailchimp as a central growth platform for small and mid-sized online businesses seeking measurable, data-driven marketing results.

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WS Investor 02-10-26

Intuit announced a new multi-year partnership with Affirm to integrate pay-over-time payment options directly into QuickBooks Payments. Under the agreement, Affirm will become the exclusive pay-over-time solution within QuickBooks, enabling small and mid-market businesses to offer flexible installment payment options to customers while receiving funds upfront.

The integration is designed to help businesses improve conversion rates, increase average order value, and accelerate cash flow, addressing a common challenge for SMBs tied to unpaid invoices. Affirm will handle underwriting and repayment risk, offering customers transparent payment plans with no late or hidden fees. The service will roll out in the coming months for eligible QuickBooks Online customers in the U.S.

Source: Business Wire

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Global Finance News 02-02-26

Intuit announced the launch of a new Career Pipeline Program aimed at upskilling one million students in the accounting profession over the next five years, as artificial intelligence reshapes the industry. The initiative focuses on providing students with digital, data, and advisory skills, along with industry-recognized certifications and training on AI-enabled tools used by modern accounting firms.

The program is designed to address talent shortages and misconceptions about the accounting profession, particularly among Gen Z, while reinforcing the role of human judgment alongside AI. Intuit said the initiative will offer on-demand learning, mentorship, and practical certifications to help students become job-ready and more confident entering the workforce.

As part of the launch, Intuit will host a virtual Career Lab event on February 3–4, 2026, bringing together industry leaders to discuss the future of accounting careers, the impact of AI, and the skills employers are seeking. Participants will have access to free resources, including the ProAdvisor QuickBooks Certification, which Intuit says is widely recognized by employers.

Source: Business Wire

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