All articles tagged with #intuit
A recent RBC report highlights that in the post-AI era, success in software depends on innovation rather than incumbency, with Microsoft, Intuit, and HubSpot identified as winners due to their strong AI strategies, while companies like Salesforce and ZoomInfo face challenges due to slower AI adoption and commoditization risks.
Intuit's stock declined despite beating Q4 earnings estimates, driven by ongoing concerns or market reactions related to AI momentum, highlighting that strong earnings do not always lead to stock price increases.
Intuit forecasts lower-than-expected first-quarter revenue growth due to sluggish performance at Mailchimp, leading to a nearly 6% drop in shares; despite this, the company remains optimistic about its overall fiscal 2026 revenue and has approved a $3.2 billion share buyback.
The S&P 500 rose 0.4% on Friday, concluding a strong week for stocks, driven by earnings from Nvidia and major retailers. Super Micro Computer led the S&P 500 with an 11.6% gain, marking its fourth top performance this week, following a compliance plan to avoid delisting and a mention in Nvidia's earnings call. Copart and Moderna also saw significant gains, while Intuit's shares fell 5.7% due to a disappointing outlook. The Dow increased by 1%, aided by Boeing, and the Nasdaq ended slightly up by 0.2%.
The S&P 500 rose 0.4% on Friday, capping a strong week for stocks driven by positive earnings from Nvidia and major retailers. Super Micro Computer led the S&P 500 with an 11.6% gain, marking its fourth top daily performance this week, following a compliance plan to avoid delisting and a mention in Nvidia's earnings call. Copart and Moderna also saw significant gains, while Intuit shares fell 5.7% due to a disappointing outlook. The Dow increased by 1%, aided by Boeing, while the Nasdaq ended slightly up.
Intuit reported better-than-expected earnings for its fiscal first quarter, with adjusted earnings of $2.50 per share on $3.28 billion in sales, surpassing analyst expectations. However, the company's guidance for the current quarter and full fiscal year fell short of Wall Street estimates, leading to a 4% drop in its stock price in after-hours trading. Intuit is focusing on AI-driven solutions to enhance its software offerings, including TurboTax and QuickBooks. Additionally, a report about a potential government tax-filing app contributed to the stock's volatility.
Elon Musk's Department of Government Efficiency is reportedly considering developing a free mobile app for tax filing, which has caused shares of tax service providers Intuit and H&R Block to drop. This initiative aligns with Musk and Vivek Ramaswamy's mission to reduce government spending and follows the Biden administration's introduction of a free IRS tax-filing system. The move is part of a broader effort to cut federal budget costs and challenge the dominance of private tax-filing companies.
Shares of H&R Block and Intuit fell after reports that the Trump administration is considering a free tax-filing app, potentially competing with these companies' services. The discussions, led by the Department of Government Efficiency, are in early stages. This development follows the IRS's permanent establishment of its free Direct File program.
Shares of Intuit and H&R Block fell sharply following reports that the Trump administration is considering a mobile app for free tax filing with the IRS, potentially impacting these companies' business models. The proposal, discussed by Elon Musk's DOGE commission, is in early stages and faces significant implementation challenges. Jefferies analyst Brent Thill suggests the market reaction is an overreaction, citing the government's poor track record with user-friendly software and the complexity of Intuit's TurboTax product. Intuit's stock dropped 5.1%, while H&R Block's fell 8.2%.
Intuit Inc. shares dropped significantly after the company reported losing 1 million free TurboTax users, coinciding with the IRS introducing its own free tax filing option. Despite this, Intuit's revenue and profit exceeded expectations, driven by higher spending from remaining users and growth in its business-oriented products. The company is focusing on customers with more complex tax needs and integrating AI features, while downplaying the importance of free users.
Stocks making significant moves in premarket trading include Ross Stores, Intuit, Workday, and Guardant Health, among others.
The FTC has issued a final order against Intuit for deceptive advertising of TurboTax as a free service, prompting inquiries about free tax help options. IRS Free File offers guidance for those with an annual gross income of $79,000 or less, while Free File Fillable Forms are available for those making more. Miltax provides free tax software and assistance to servicemembers and veterans, and the Volunteer Income Tax Assistance program aids individuals with lower incomes, disabilities, or language barriers. Additionally, some tax software providers offer free tiers for simpler returns.
The FTC has found that Intuit's TurboTax is not free for everyone, prompting many to seek free tax help options. The IRS Free File and Free File Fillable Forms are available for individuals with different income levels, while Miltax provides free tax software and assistance to servicemembers and veterans. Additionally, the Volunteer Income Tax Assistance program and certain tax software providers offer free services for eligible individuals.
The FTC has issued a final order against Intuit for deceptive advertising of TurboTax as a free service, prompting individuals to seek free tax help options. IRS Free File offers guidance for those with an annual gross income of $79,000 or less, while Free File Fillable Forms are available for those making more than $79,000. Miltax provides free tax software and assistance to servicemembers and veterans, and the Volunteer Income Tax Assistance program aids individuals with disabilities or limited English proficiency. Additionally, some tax software providers offer free tiers for simpler returns.
The Federal Trade Commission has ordered the maker of TurboTax, Intuit, to cease its "deceptive" advertising for "free" tax-filing software after a four-year investigation prompted by ProPublica's reporting. The order requires clear disclosures in the company's ads, stating that most filers won't qualify for free filing, and prohibits misrepresenting any material fact. Intuit plans to appeal the order in federal court, arguing that it has always been clear, fair, and transparent with its customers.