- Intuit reported FY26 revenue growth of 14% to $21.4 billion but guided FY27 growth to 9%-10%, including only 2%-3% growth for TurboTax.
- The company plans to lower DIY TurboTax revenue per user after total U.S. TurboTax units fell 2% to 39.0 million and management identified price as the leading reason customers left.
- Intuit is relying on cross-selling into Credit Karma and TurboTax Live to monetize a larger funnel; its Big Bets grew 34% in FY26, while Credit Karma members filing through TurboTax increased more than 50%.
- The strategy creates a near-term earnings and margin trade-off, with investors reacting negatively despite Q4 revenue and non-GAAP EPS beating estimates; Intuit shares fell 3.37% to $357 in the reported session.
Quotes
“sacrifice near-term growth for wider customer acquisition”