MOUNTAIN VIEW, California, May 20, 2026, 06:07 PT
- Intuit will post its fiscal Q3 numbers after the U.S. close on Wednesday.
- Analysts are looking for gains in profit and revenue, but shares have dropped sharply in the past year.
- The report is set to test investor faith in TurboTax, QuickBooks, and Intuit’s AI push.
Intuit will post fiscal Q3 results after the close Wednesday, as the TurboTax parent faces investors following a sharp drop in its shares and debate over what AI means for growth. The earnings call starts at 1:30 p.m. Pacific.
The timing is key since the quarter ended April 30 covers the main U.S. tax season, usually Intuit’s busiest period. Reuters said in February the company’s third quarter is usually its best, with TurboTax, Credit Karma, and QuickBooks driving much of that demand.
The timing follows a tough stretch for the stock. Simply Wall St noted Intuit shares fell 39.4% in the last year and are down 36% for the year through May 19, despite a small rebound lately.
Intuit is expected to report earnings of $12.57 per share for the quarter, up from $11.65 last year, and revenue of $8.54 billion, up from $7.75 billion, according to Benzinga, which cited Benzinga Pro data. Intuit shares closed down 0.9% at $399.71 on Tuesday.
Intuit Inc. is projecting about 10% revenue growth for the quarter and sees non-GAAP earnings coming in between $12.45 and $12.51 a share. Non-GAAP earnings, which leave out some costs like stock-based pay and acquisition charges, are a company-adjusted number.
QuickBooks and the consumer tax unit are in focus as investors look to see if they can make up for spending worries. Intuit’s third-quarter profit outlook had come in short of Wall Street forecasts earlier this year, as the company flagged increased marketing and customer-support expenses during tax season, Reuters said.
The AI debate is also in play. Intuit keeps pushing the idea that AI can build up its software instead of cutting into it, rolling out updates this month for Intuit Enterprise Suite that bring in more automation, reporting features and workforce-management options aimed at mid-market firms. Ashley Still, who heads small business and mid-market at Intuit, said the expanded suite is trying to give finance leaders “real-time visibility” by combining data on operations, finance and employees. Intuit Inc.
Intuit rolled out QuickBooks Workforce, its AI-native HCM platform aimed at small and mid-market firms. David Hahn, executive VP and GM of services, said this is the “biggest change” to Intuit’s HCM offering since QuickBooks Online launched 25 years ago. Intuit Inc.
Analysts are divided over how much of this is in the stock. Rothschild & Co’s Omar Sheikh raised Intuit to Buy and took his price target up to $700 back in March. Goldman Sachs analyst Kash Rangan stuck with Neutral and dropped his target to $519, Benzinga reported. Mizuho, RBC Capital, and Oppenheimer also cut their targets but kept their positive calls.
TD Cowen cut its price target to $576 from $633 but left its Buy rating unchanged, Insider Monkey reported. The firm said it still saw a favorable setup for the stock ahead of results. TD Cowen expected what it described as a clean beat-and-raise quarter after recent weakness.
Intuit’s bear case is clear. If AI cuts into demand for usual tax or bookkeeping software, or if higher marketing spending keeps pressuring margins, even a strong revenue number may not help. The company also competes with H&R Block for tax prep and goes up against Oracle’s NetSuite in business software, Reuters said.
Intuit has to show this tax season was solid, that QuickBooks keeps growing, and that its AI strategy pulls in revenue—not just costs. That’s a lot to clear up in one day. With shares down almost 40% in a year, investors may not have much patience for a mixed update.
