Intuit (INTU) projects FY2027 revenue of $23.3B to $23.5B

Intuit (INTU) stock fell 12% after disappointing fiscal 2027 revenue guidance of $23.3 billion to $23.5 billion, reflecting a slowdown to 9% to 10% growth from 14% in fiscal 2026. TurboTax federal units dropped 2% to 39.0 million, with online and desktop units also declining. For fiscal 2027, TurboTax revenue is projected at $5.4 billion to $5.5 billion, growing only 2% to 3%. As the company focuses on gaining market share, these developments highlight ongoing challenges amidst rising competition and an increasing shift towards AI tools.