MOUNTAIN VIEW — Intuit issued fiscal 2027 revenue guidance of $23.28 billion to $23.51 billion, which represents total revenue growth of 9% to 10%. Wall Street analyst consensus estimates placed fiscal 2027 revenue at $23.72 billion. The company guided its TurboTax unit to grow between 2% and 3% for fiscal 2027.

CFO Sandeep Aujla described the company's strategy as a "reset to reaccelerate." Intuit CEO Sasan Goodarzi stated he is personally accountable for performance issues in specific areas. He said the company is really doubling down in core areas where he is personally dissatisfied and holds himself accountable for the lack of performance, which is DIY tax, and on the low end in the business group.

Goodarzi explained the timing of the strategic shift during the earnings call. He said he is resetting expectations for the company because this is the perfect time to do it, where they can play offense. The company reported annual revenue exceeding $20 billion for fiscal 2026, with total fiscal 2026 revenue reaching $21.4 billion. This figure represented a 14% year-over-year increase.

JPMorgan lowered its price target for Intuit from $605 to $331 following the announcement. Deutsche Bank analyst Brad Zelnick maintained a Buy rating on Intuit and lowered the price target from $530 to $425 on August 19. Intuit issued $1.75 billion in senior notes in June 2026.

Why It Matters

The strategic reset involves operational changes, including a 17% reduction in the full-time workforce and a shift in pricing strategy for TurboTax. Intuit is accepting lower average revenue per customer in the TurboTax division to drive customer acquisition, a move that contributes to the guided slowdown in growth for that unit. The company cited expected declines in its desktop ecosystem and softness at Mailchimp as factors influencing its fiscal 2027 outlook.

Intuit has faced legal and regulatory scrutiny regarding its free tax services, with approximately 4.4 million consumers nationwide set to receive checks from a $141 million multistate settlement. The company acquired ChipSoft, the maker of TurboTax, in 1993. The current strategic adjustments aim to address performance in DIY tax and the low end of the business group, areas where leadership has expressed dissatisfaction.

Timeline

On August 25, 2026, Intuit's "Big Bets" initiatives account for 30% of the company's total revenue. Also on August 25, 2026, Intuit is accepting lower average revenue per customer in TurboTax to accelerate customer acquisition. Wall Street analyst consensus estimates showed Intuit's fiscal fourth-quarter revenue at $4.268 billion on August 25, 2026.

Intuit's "Big Bets" initiatives, comprising Assisted Tax, Money, and Mid-Market, grew 34% in fiscal 2026, a fact reported on August 25, 2026. Intuit guided TurboTax unit growth to 2% to 3% for fiscal 2027 on August 25, 2026.

What's New

Additional reporting indicates Intuit guided TurboTax unit growth to 2% to 3% for fiscal 2027. The company is reducing its full-time workforce by 17%. Effective August 1, 2026, Mailchimp will be reported as a separate segment by Intuit. Intuit is committed to reducing share-based compensation as a percentage of revenue to 8% by fiscal 2030.

How Sources Differ

Regarding total revenue figures, the Intuit fiscal 2026 annual earnings report states that Intuit's "Big Bets" initiatives account for 30% of the company's total revenue. The Intuit fiscal 2027 guidance statement indicates that Intuit guided fiscal 2027 total revenue growth to 9% to 10%.

On quarter revenue estimates, Wall Street analyst consensus estimates show that Wall Street analysts estimated Intuit's fiscal fourth-quarter revenue at $4.268 billion. The Intuit fiscal 2026 fourth-quarter earnings report states that Intuit reported fiscal fourth-quarter revenue of $4.354 billion.

Regarding Intuit metrics, the Intuit fiscal 2027 guidance statement shows that Intuit guided TurboTax unit growth to 2% to 3% for fiscal 2027. The Intuit fiscal 2026 annual earnings report states that Intuit online paying customer growth fell to 3% in fiscal 2026.