INTU shares rise as fiscal 2026 guidance beats expectations, easing AI-driven demand concerns for core products like TurboTax.
Intuit (NASDAQ: INTU) reversed its year-to-date losses after reporting stronger-than-expected earnings and raising its fiscal 2026 outlook. The company’s revenue grew 10% year over year, with TurboTax revenue up 7%, defying investor fears about AI disrupting demand for its tax software.
Prior to the report, INTU had fallen over 50% in 2024 amid concerns that AI tools could reduce reliance on its core products. However, full-year sales are now projected to rise 13% to 14%, with TurboTax Live—a premium service connecting users with tax professionals—expected to grow 38% and account for more than half of total revenue.
The results suggest customer loyalty to human-assisted tax services remains strong, despite AI advancements. Intuit’s broader portfolio, including QuickBooks and Credit Karma, also contributed to the positive outlook.