Intuit shares fell nearly 10% in pre-market U.S. trading after the company issued weaker-than-expected revenue guidance for the first quarter and full fiscal year.
The software provider, known for products like TurboTax, projected first-quarter revenue between $4.29 billion and $4.31 billion. Analysts had anticipated $4.36 billion. The company also trimmed its full-year outlook, citing intensified competition for customer growth and market share as short-term headwinds.
Intuit’s downward revision reflects broader challenges in the tech sector, where software stocks have faced heightened volatility amid shifting demand dynamics and competitive pressures. The company’s guidance reflects expectations of slower revenue momentum as it prioritizes customer acquisition in a crowded market.
The revised outlook comes despite Intuit’s established position in tax and financial software, where it competes with both legacy providers and emerging fintech platforms. The company’s long-term strategy hinges on expanding its user base, but near-term revenue growth may remain constrained by elevated marketing costs and competitive pricing strategies.
Shares of Intuit were down approximately 9.5% in pre-market trading following the announcement.
