Intuit Shares Drop Over Revised TurboTax Outlook Despite Raised Earnings Guidance
Despite raising its full-year revenue and earnings guidance above analyst expectations, Intuit's stock fell over 13% in premarket trading due to a weaker-than-expected outlook for TurboTax. The company also announced plans to cut 17% of its workforce as part of an operational restructuring.
Tickers: $INTU
Topics: earnings revenue guidance stock price movement workforce reduction