Tag: $Intuit

Intuit reported better-than-expected results for its latest quarter but its revenue outlook is likely to disappoint Wall Street, as the company looks to gain market share by potentially lowering prices across its business.

Tax and finance software maker Intuit said Wednesday that it is cutting 17% of its full-time workforce, the latest tech company to announce a mass downsizing during the artificial intelligence boom. Shares tumbled 13% in extended trading.

Intuit lifted its full-year guidance and issued an upbeat current-quarter outlook Thursday after reporting fiscal Q3 results that topped Wall Street estimates as a strong tax season spurred demand for its TurboTax and QuickBooks software.

Shares of Intuit Inc. fell after hours on Thursday, as the tech company behind TurboTax filing software and the personal-finance site Credit Karma warned of a decline in the number of people who use TurboTax for free.

Intuit INTU shares were falling early on Wednesday after the company’s sales from its TurboTax software took a hit. Wall Street analysts reckon investors should look past that and focus on its raised guidance.