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The tax software maker forecast revenue growth of 9% to 10% for fiscal 2027, below its recent pace of 14%
Intuit $INTU reported fiscal 2026 results Tuesday and set guidance for the year ahead that disappointed investors, as TurboTax lost customers to competitors and the company signaled it may need to lower prices to win them back.
Intuit stock fell 12% in early Wednesday trading after the company projected fiscal 2027 revenue of $23.3 billion to $23.5 billion, representing a deceleration to 9% to 10% growth from the 14% pace it achieved in fiscal 2026. The company also trimmed its three-year growth target for the global business solutions segment to 10% to 15%, versus a prior range of 15% to 20%, according to MarketWatch.
Total TurboTax federal units fell 2% to 39.0 million in fiscal 2026, from 39.9 million the prior year, with online units down 2% and desktop units down 7%, the company said. Overall TurboTax revenue rose 7% to $5.3 billion for the year, with TurboTax Live revenue up 37% and representing 53% of total TurboTax revenue.
