Intuit posts record $20 billion revenue, guides below estimates for fiscal 2027
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Intuit reported fiscal 2026 revenue of $20 billion, crossing the milestone for the first time. The company issued fiscal 2027 guidance below Wall Street estimates, sending shares down 9% in after-hours trading. CEO Sasan Goodarzi framed the guidance cut as a strategic reset to rebuild customer acquisition.
Key Facts
- Intuit's fiscal fourth quarter revenue was $4.354 billion, above the $4.268 billion Wall Street estimate.
- Earnings per share for the quarter were $4.03, compared to the $3.58 analysts expected.
- Intuit's 'Big Bets'—Assisted Tax, Money, and Mid-Market—grew 34% and now account for 30% of total revenue.
- Fiscal 2027 revenue guidance is $23.28 billion to $23.51 billion, below the $23.72 billion consensus estimate.
- Shares closed down 3.37% at $357.46 and fell roughly 9% more in after-hours trading to $323.94.
Fiscal 2026 Results
Intuit closed fiscal 2026 with annual revenue exceeding $20 billion for the first time, beating guidance and consensus across every metric. The fiscal fourth quarter, reported Tuesday, delivered revenue of $4.354 billion and earnings per share of $4.03. The company's 'Big Bets'—Assisted Tax, Money, and Mid-Market—grew 34% and now represent 30% of total revenue.
Guidance and Market Reaction
Intuit issued fiscal 2027 revenue guidance of $23.28 billion to $23.51 billion, below the $23.72 billion Wall Street estimate. The company attributed the expected deceleration to a projected decline in the desktop ecosystem, softness at Mailchimp, and a decision to accept lower average revenue per customer in TurboTax upfront to accelerate acquisition. Shares closed down 3.37% at $357.46 and fell roughly 9% more in after-hours trading to $323.94.
Strategic Reset
CEO Sasan Goodarzi framed the guidance cut as a strategic reset, saying, 'I'm resetting expectations for the company because this is the perfect time to do it, where we can play offense.' Goodarzi pointed to two priorities: continuing to scale the Big Bets and reaccelerating new-customer acquisition, a muscle he acknowledged had atrophied. CFO Sandeep Aujla described the strategy as a 'reset to reaccelerate,' calling fiscal 2026 'a testament to our strategy' while acknowledging the pivot ahead. Intuit believes its expanding AI capabilities, such as Intuit Intelligent Chat for mid-market businesses, can help defend its core businesses against generalized AI tools.
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Intuit posts record $20 billion revenue, guides below estimates for fiscal 2027
