Intuit’s Q1 Revenue Forecast Misses Estimates Amid Mailchimp Struggles

Intuit Inc. projected first-quarter revenue growth below Wall Street expectations, triggering a 6% after-hours stock decline. The financial software giant's underperforming Mailchimp acquisition continues to weigh on its Global Business Services segment, offsetting strength in Core products like TurboTax and QuickBooks.

The company approved a $3.2 billion share repurchase program, expanding total authorization to $5.3 billion. CFO Sandeep Aujla characterized Mailchimp's drag as temporary, with recovery expected by fiscal year-end. Intuit recently implemented price increases for QuickBooks Online and Payroll services following the introduction of AI-powered features.

Long-term guidance remains stable, with fiscal 2026 revenue projections of $21-$21.19 billion aligning closely with analyst consensus. Adjusted EPS forecasts of $22.98-$23.18 similarly matched market expectations.