Sasan Goodarzi reports Intuit's fiscal 2026 results and sets conservative growth guidance for the year ahead.
Sasan Goodarzi, CEO of Intuit, reported fiscal 2026 results that left Wall Street divided. While the company beat earnings and revenue expectations for the fifth consecutive quarter, crossing $20 billion in annual revenue for the first time, the fiscal 2027 guidance signaled a sharp deceleration in growth. Analysts from Bank of America and JPMorgan downgraded the stock, citing AI disruption risks and unsatisfying growth at the lower end of the customer base. Conversely, Stifel and Piper Sandler raised their price targets despite maintaining conservative ratings. The administration announced that Intuit lost quality DIY customers to low-cost providers due to pricing friction in TurboTax, with unit growth guided at just 2-3% for the year ahead. Sasan Goodarzi noted that while AI is a disruptor, Intuit intends to be the disruptor by leveraging its "Big Bets" initiatives, which grew 34% in fiscal 2026 and now account for 30% of total revenue.