Intuit Falls After Giving Tepid Outlook Despite New AI Tools
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Intuit Inc., the maker of the TurboTax tax preparation software, dropped in extended trading after giving a sales and profit outlook for the current quarter that fell short of analysts’ estimates, disappointing investors looking for a boost from the company’s new AI products.
Revenue will be about $3.83 billion in the period ending Jan. 31, the company said Thursday in a statement. Analysts, on average, estimated $3.86 billion, according to data compiled by Bloomberg. Earnings, excluding some items, will be about $2.58 a share in the fiscal first quarter, also missing estimates.