Intuit Shares Fall as Management Targets Slower Customer Growth With a Strategic Reset - Intuit (NASDAQ:I

Intuit Inc. (NASDAQ:INTU) shares traded lower on Wednesday after the company reported a fourth-quarter earnings beat on Tuesday.

Management used Tuesday’s earnings call to acknowledge shortcomings in customer acquisition and reset priorities to focus on winning new users.

Q4 Results At A Glance

The TurboTax and QuickBooks parent reported fourth-quarter revenue of $4.35 billion, up 14% year over year, beating the $4.27 billion consensus.

Adjusted earnings of $4.03 per share beat the $3.58 estimate and increased 47% year over year. GAAP diluted EPS was $1.34, compared with $1.35 a year earlier.