Reported about 2 months ago
Intuit has forecasted its fiscal 2025 revenue to surpass Wall Street expectations, driven by a surge in demand for its AI-enhanced financial management tools. Following recent price hikes for products like QuickBooks, the company's shares rose by 2%. CEO Sasan Goodarzi highlighted robust customer growth in QuickBooks online services. Despite announcing layoffs affecting 10% of its workforce, Intuit plans to focus on hiring for AI-related roles. The company anticipates revenue between $18.16 billion and $18.35 billion, slightly above analysts' estimates.
Source: YAHOO