Intuit shares drop despite Q3 beat on TurboTax weakness, workforce reduction
Key takeaways
- The financial software company reported fiscal third-quarter revenue of $8.56 billion, up 10.4% from a year earlier and slightly ahead of analysts’ estimates of $8.52 billion.
- Adjusted earnings came in at $12.80 per share, above consensus expectations of $12.48 per share.
- For the quarter, consumer revenue rose 8% to $5.3 billion.
Intuit shares drop despite Q3 beat on Turbo Tax weakness, workforce reduction Intuit shares drop despite Q3 beat on Turbo Tax weakness, workforce reduction Proactive uses images sourced from Shutterstock Proactive Thu, May 21, 2026 at 8:38 PM GMT+7 2 min read INTU Intuit Inc (NASDAQ:INTU, XETRA:ITU) shares opened about 19% lower on Thursday despite the company posting fiscal third quarter results that topped Wall Street expectations, as investors focused on a weaker long-term outlook for Turbo Tax and plans to cut roughly 17% of its workforce.
The financial software company reported fiscal third-quarter revenue of $8.56 billion, up 10.4% from a year earlier and slightly ahead of analysts’ estimates of $8.52 billion.
Adjusted earnings came in at $12.80 per share, above consensus expectations of $12.48 per share.