Intuit tops $20B revenue but trims outlook to rebuild customer growth

Intuit reported fiscal fourth-quarter revenue of $4.354 billion, beating estimates, and crossed $20 billion in annual revenue for the first time. However, shares fell after the company issued fiscal 2027 guidance below Wall Street expectations, citing a deliberate slowdown in revenue per customer to accelerate acquisition. The CFO described the move as a reset to reaccelerate growth, focusing on rebuilding customer-acquisition capabilities.

Intuit’s fiscal fourth-quarter revenue of $4.354 billion and adjusted EPS of $4.03 both exceeded analyst projections, capping a year where annual revenue surpassed $20 billion for the first time. The company’s “Big Bets” segments—Assisted Tax, Money, and Mid-Market—grew 34% collectively, now representing 30% of total revenue. Despite these results, shares dropped sharply in after-hours trading following the release of fiscal 2027 guidance projecting revenue between $23.28 billion and $23.51 billion, below the $23.72 billion consensus estimate.

The company’s outlook incorporates an expected decline in the Desktop ecosystem, softness at Mailchimp, and a deliberate choice to accept lower average revenue per customer in TurboTax to accelerate acquisition. CEO Sasan Goodarzi acknowledged dissatisfaction with performance in DIY tax and the low end of the business group, noting these areas previously grew customers at double-digit rates. CFO Sandeep Aujla framed the strategy as a reset to reaccelerate growth while continuing to scale the company’s fastest-growing businesses.