Key facts
- Intuit projects fiscal 2027 revenue of $23.28 billion to $23.51 billion, missing the $23.72 billion estimate.
- The company anticipates a revenue growth slowdown to 9%-10% in fiscal 2027, compared to 14% in fiscal 2026.
- Intuit forecasts fiscal 2027 adjusted earnings per share between $22.88 and $23.12, below the $27.32 analyst estimate.
- Zoom forecast third-quarter profit below analyst expectations, signaling competitive pressures.
- Zoom projected third-quarter revenue between $1.275 billion and $1.28 billion, slightly below the $1.28 billion estimate.
Intuit, the maker of TurboTax, projected its annual revenue for fiscal year 2027 to be between $23.28 billion and $23.51 billion, falling short of Wall Street's estimate of $23.72 billion. This forecast represents a growth rate of 9% to 10%, indicating a slowdown from the 14% revenue growth seen in fiscal year 2026. The company attributed this anticipated deceleration to weaker sales from its marketing platform and changes implemented to attract more users to TurboTax, which have led to lower average revenue per customer. CEO Sasan Goodarzi emphasized the company's focus on scaling core initiatives and accelerating customer growth for sustained long-term expansion. Intuit expects TurboTax revenue to grow by 2% to 3% in fiscal 2027, a decrease from 7% in 2026, while Mailchimp revenue is projected to remain flat or decline by 1%. For adjusted annual earnings per share, Intuit provided a range of $22.88 to $23.12, below the analyst consensus of $27.32. Despite the cautious annual outlook, Intuit reported fourth-quarter revenue of $4.35 billion, a 13.6% increase that surpassed the $4.27 billion estimate. Meanwhile, Zoom Communications forecast third-quarter profit below analyst expectations, signaling stiff competition despite its AI feature rollouts. The video-conferencing company projected third-quarter revenue between $1.275 billion and $1.28 billion and adjusted profit between $1.46 and $1.48 per share, both below analyst estimates.