Intuit’s Fiscal 2025 Profit Outlook Falls Short
Intuit Inc. (NASDAQ:INTU) has emerged as the biggest decliner in the S&P 500 following a disappointing profit forecast for fiscal 2025. The company’s first-quarter and full-year earnings projections were below market expectations. For the first quarter of fiscal 2025, Intuit anticipates earnings per share (EPS) in the range of 61 to 66 cents, missing the consensus estimate from analysts. The company’s full-year EPS guidance of $12.34 to $12.54 also fell short of forecasts.
Unexpected Q4 Loss Impacts Stock Performance
In addition to the soft profit outlook, Intuit reported an unexpected loss for the fourth quarter. The company’s revenue reached $3.18 billion, representing a 17% year-over-year increase and surpassing estimates. However, Intuit experienced a per-share loss of 7 cents, compared to a profit of 32 cents in the previous year, missing analysts’ expectations of a 22-cent profit. This underperformance contributed to a more than 7% drop in Intuit’s stock price, which fell to $616.39 by 2 p.m. ET on Friday, placing the shares in negative territory for the year. The results follow the company’s announcement in July of plans to lay off 1,800 employees, approximately 10% of its workforce, with intentions to replace them with new hires focused on artificial intelligence (AI) in fiscal 2025.
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