Intuit Inc. (INTU)
Intuit shares drop despite Q3 beat on TurboTax weakness, workforce reduction
Intuit Inc (NASDAQ:INTU, XETRA:ITU) shares opened about 19% lower on Thursday despite the company posting fiscal third quarter results that topped Wall Street expectations, as investors focused on a weaker long-term outlook for TurboTax and plans to cut roughly 17% of its workforce. The financial software company reported fiscal third-quarter revenue of $8.56 billion, up 10.4% from a year earlier and slightly ahead of analysts' estimates of $8.52 billion.
Intuit Inc. (INTU) Q3 2026 Earnings Call Transcript
Intuit Inc. (INTU) Q3 2026 Earnings Call Transcript
Compared to Estimates, Intuit (INTU) Q3 Earnings: A Look at Key Metrics
The headline numbers for Intuit (INTU) give insight into how the company performed in the quarter ended April 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Intuit (INTU) Surpasses Q3 Earnings and Revenue Estimates
Intuit (INTU) came out with quarterly earnings of $12.8 per share, beating the Zacks Consensus Estimate of $12.48 per share. This compares to earnings of $11.65 per share a year ago.
Intuit Q3 Earnings Call Highlights
Intuit NASDAQ: INTU reported fiscal third-quarter revenue growth of 10% and raised its full-year outlook, while management outlined plans to reduce the company's full-time workforce by 17% and adjust its approach to lower-income, price-sensitive tax filers.
Intuit to Cut 17% of Workforce in Shift Toward AI
Intuit Inc. is reducing its global headcount by approximately 17% as it moves to streamline operations and accelerate its investment in artificial intelligence, according to an internal memo reviewed by Reuters on Wednesday (May 20). The restructuring will result in the elimination of about 3,000 positions across the financial software giant.
Intuit plans to cut workforce by about 17% as tax software maker reckons with slowing growth
Intuit wants to move "with greater velocity," CEO Sasan Goodarzi said as the finance software maker said it would cut 17% of its full-time workforce. The company's quarterly revenue came in just below consensus.
Intuit Beats Earnings Estimates and Plans to Cut 17% of Workforce
Intuit said on Wednesday that it's reducing its full-time workforce by 17%.
Intuit layoffs today: Stock takes a dive as company cuts 17% of jobs, citing AI acceleration
And the layoffs continue. Intuit plans to axe 17% of its workforce, about 3,000 of its approximately 18,200 global employees (as of July 31 according to its annual report), and focus on accelerating integrating AI across the company and its services, while streamlining operations, Reuters reported Wednesday.
California's Intuit to slash thousands of jobs, cut workforce by 17%, internal memo shows
The company behind TurboTax, CreditKarma and QuickBooks is laying off about 17% of its global workforce.
Intuit to lay off over 3,000 employees to refocus on AI
Enterprise software giant Intuit is letting go 17% of its staff, or about 3,000 people, as it seeks to divert resources towards baking in AI into its products, Reuters reported, citing an internal memo sent to employees.
Intuit to cut 3,000 jobs, Reuters reports, as stock falls ahead of earnings
Intuit is laying off around 3,000 employees globally, or roughly 17% of its workforce, as the software company restructures operations and intensifies its focus on artificial intelligence initiatives. The job cuts were disclosed in an internal memo sent by Chief Executive Sasan Goodarzi to employees on Wednesday and reviewed by Reuters.
