Intuit (INTU) Cuts 17% Workforce, Shares Fall 13% in After-Hours
Published on Β· Source: cnbc.com
AI Summary
Summarized by AI from the source belowIntuit (INTU) announced a 17% workforce reduction, affecting over 3,000 employees. In extended trading, shares dropped 13%. The restructuring is set to incur charges between $300 million and $340 million, primarily in the current quarter. In its fiscal third quarter, Intuit posted adjusted earnings per share of $12.80 on $8.56 billion in revenue, slightly missing analyst expectations. Despite these challenges, Intuit raised its fiscal 2026 EPS forecast to $23.80-$23.85, indicating a potential long-term growth strategy.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Intuit Inc. (INTU)
Intuit makes financial software including TurboTax, QuickBooks, and Credit Karma.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
Earlier INTU news
- Intuit (INTU) Stock Decline Surprises During Tax Season
- US Court Rejects FTC Order Against Intuit Over TurboTax Advertising Practices
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