About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government. S ...

Tax preparation software maker Intuit is cutting 1,800 jobs, or 10% of its workforce, and closing two locations. The company, parent of QuickBooks and TurboTax, revealed the planned layoffs in a filing with the Securities and Exchange Commission Wednesday (July 10), saying it plans to "hire a nearly equivalent number of employees in fiscal 2025 to support [its] declared growth areas and expects overall headcount to grow." In a note to employees included in the filing, CEO Sasan Goodarzi said the cuts come a ...

The company behind QuickBooks and TurboTax said it was laying off 1,800 employees, but that it expects to hire at least that many in fiscal 2025 as it accelerates its focus on incorporating artificial intelligence into its products and services. Mountain View, California-based Intuit will also close offices in Boise, Idaho and Edmonton in Alberta, Canada where more than 250 employees work. Some of those workers will transfer to new locations, the company said. Intuit shares fell 3.6% in morning trading to $ ...

TurboTax parent Intuit said Wednesday it will let go of about 1,800 employees, or 10% of its workforce, as it looks to focus on its AIpowered tax preparation software and other financial products. The company, which has invested heavily in providing generative AI-powered accounting and tax preparation tools for small and medium businesses in the past few years, expects to close two of its sites in Edmonton, Canada, and Boise, Idaho. Intuit will rehire 1,800 new people primarily in engineering, product and c ...

Intuit (NASDAQ:INTU) layoffs are a hot topic on Wednesday after the TurboTax parent company announced plans to cut roughly 10% of its workforce. Intuit notes that these layoffs will remove 1,800 positions from its business. It's doing this as part of an effort to refocus on more important areas of interest. It will also result in the closure of its Boise, Idaho and Edmonton, Alberta locations. To go along with this, Intuit says that it will be hiring 1,800 people across key areas. This includes engineering, ...

Add to Watchlist Intuit's Products and Market Dominance The company's TurboTax platform managed 28% of IRS returns last year. The firm had a 70% market share amongst those who chose to file their returns without professional help. QuickBooks controls 81% of the small business accounting market share. This market is currently worth $20 billion and is expected to grow by 9.2% annually until 2029. Regarding TurboTax, Benjamin Franklin's phrase applies well: "Nothing is certain, except death and taxes." Everyon ...

Investors will be eagerly watching for the performance of Intuit in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.86, indicating a 12.73% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $3.08 billion, indicating a 13.73% upward movement from the same quarter last year. Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've c ...

Intuit currently has an average brokerage recommendation (ABR) of 1.36, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 28 brokerage firms. An ABR of 1.36 approximates between Strong Buy and Buy. Check price target & stock forecast for Intuit here>>> With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong ...

In its inaugural year, participants of the Intuit IDEAS Program experienced an average revenue growth of 23% and saved 16.5 hours per month due to efficiencies enabled by INTU's financial technology platform, which leverages data and AI as part of its core strategy. Additionally, participants benefited from guidance provided by Intuit's experts and business coaching from the Los Angeles Urban League. Intuit projects fiscal 2024 revenues in the band of $16.164-$16.2 billion, indicating 13% year-over-year gro ...

Over the past month, shares of this maker of TurboTax, QuickBooks and other accounting software have returned -8.7%, compared to the Zacks S&P 500 composite's +3.6% change. During this period, the Zacks Computer - Software industry, which Intuit falls in, has gained 4.6%. The key question now is: What could be the stock's future direction? We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earning ...