On August 26, Intuit declined 11.04% in pre-market trading, trading at $317.0/share, with turnover of $906,700. The sell-off was triggered by the company issuing full-year guidance significantly below market consensus despite reporting strong Q4 results.

Intuit reported fiscal Q4 adjusted EPS of $4.03, beating the $3.58 estimate by 12.6%, while revenue of $4.35 billion exceeded the $4.27 billion consensus. However, the forward guidance became the core catalyst for the decline. For fiscal 2027, management guided revenue of $23.28 billion to $23.51 billion versus the Street estimate of $23.7 billion, and adjusted EPS of $22.88 to $23.12, far below the $27.34 consensus. The company cited Mailchimp sales weakness, declining desktop products, and lower average revenue per TurboTax customer as it prioritizes user growth. TurboTax revenue growth is expected to decelerate to 2%-3% from 7%, while Mailchimp revenue is projected flat to down 1%. Multiple investment banks had already cut price targets ahead of the report, with Morgan Stanley warning of AI disruption risks to the tax business.

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