Intuit Stock Plummets as MailChimp and TurboTax Disappointments Trigger Grim Outlook

Intuit just handed investors a brutal reality check—and the market isn't forgiving.

Weak performances from MailChimp and TurboTax slammed revenue projections, sending shares into a nosedive. The numbers don't lie, and neither do panicked shareholders.

Another quarter, another 'strategic recalibration' from a tech giant that overpromised and underdelivered. Maybe next time they’ll blame the macro environment—it’s a classic.

TurboTax stumbled during tax season. MailChimp failed to charm small businesses. Now Intuit’s guidance reads like a cautionary tale.

When legacy software firms miss earnings, they call it a 'transition year.' When crypto projects miss, they call it a scam. Funny how that works.

Key Takeaways

• Intuit issued current-quarter and full-year projections that missed analysts' estimates.
• The tax and accounting software maker saw weakness in its MailChimp marketing platform, and a decline in average revenue from TurboTax use.
• Intuit's fourth-quarter profit and revenue exceeded forecasts.

Intuit (INTU) shares tumbled 7% in premarket trading Friday, a day after the Maker of tax and accounting software gave weaker-than-anticipated guidance on soft demand for its MailChimp marketing platform and TurboTax tax filing program.

The firm that also owns QuickBooks and Credit Karma sees fiscal 2026 first-quarter GAAP earnings per share (EPS) of $1.19 to $1.26 and revenue growth of 14% to 15%. Analysts surveyed by Visible Alpha were looking for EPS of $1.31 and revenue 16.2% higher. In addition, Intuit's full-year EPS projection of $15.49 to $15.69 was short of forecasts.

The outlook offset strong fiscal 2025 fourth-quarter results. Intuit posted adjusted EPS of $2.75 on revenue that increased 20% year-over-year to $3.83 billion, with both beating estimates. CEO Sasan Goodarzi pointed to artificial intelligence for the gains, noting the use of the company's "virtual team of AI agents and AI-enabled human experts."

Intuit noted that revenue at its Global Business Solutions Group gained 18% to $3.0 billion and Online Ecosystem rose 21% to $2.2 billion. However, when MailChimp is excluded, those segments WOULD have advanced 21% and 26%, respectively.

U.S. TurboTax units fell 2% to 39.2 million, which the company said was "due to yielding share with lower ARPR customers." ARPR, or Average Revenue Per Return, refers to the money Intuit gets when a customer uses its tax software.

Heading into today's session, shares of Intuit were up 11% year-to-date.

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