Intuit Faces Forecast Challenges Amid AI Success

Intuit Inc reported better-than-expected results for its fiscal first quarter, with revenue rising by approximately 10% to $3.28 billion, exceeding analyst expectations. Despite this, the company's shares fell by more than 5% due to a disappointing forecast for the second quarter, projecting revenue between $3.81 billion and $3.85 billion, below the consensus of $3.87 billion. Intuit's earnings per share also beat estimates, coming in at $2.50 against a forecast of $2.36. The company's AI-driven offerings, including TurboTax and QuickBooks, contributed significantly to the strong performance. However, concerns have arisen over potential competition from a proposed free tax-filing app by the Trump administration, which could impact Intuit's market share. Despite the short-term forecast miss, Intuit maintains a positive outlook on its full-year growth, projecting revenue between $18.16 billion and $18.347 billion.