Intuit (NASDAQ: INTU) Reports Strong Q3 Earnings, Workforce Reduction, and Positive Outlook

Font: Financial Modeling Prep  • May 20, 2026

• Strong Financial Performance: Intuit (NASDAQ: INTU) exceeded analyst expectations with an earnings per share of $12.80 and revenue of $8.56 billion in Q3.
• Strategic Workforce Reduction: Despite robust results, Intuit announced a 17% workforce reduction, impacting approximately 3,000 employees, as part of a strategy to simplify its organization and leverage its AI-driven platform.
• Optimistic Future Outlook: The company provided a strong Q4 forecast, projecting adjusted earnings of $3.59 per share and sales of $4.27 billion, signaling confidence in its continued growth and financial stability.

Intuit (NASDAQ: INTU) is a global financial technology platform. The company is known for its popular software products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp. Intuit provides services that help individuals and small businesses manage their financial activities, from tax preparation and accounting to personal finance and marketing.

On May 20, 2026, Intuit reported strong third-quarter results that surpassed analyst expectations. The company announced an earnings per share of $12.80, which was ahead of the estimated $12.48. Its revenue of $8.56 billion also exceeded the consensus estimate of $8.54 billion, with both metrics growing 10% year-over-year.

Looking ahead, Intuit provided a fourth-quarter forecast that also exceeded Wall Street estimates. The company projects adjusted earnings of $3.59 per share on sales of $4.27 billion. As highlighted by Investors.com, this is above analyst models of $3.14 a share on sales of $4.14 billion, signaling confidence in its future performance.

Despite the strong results, Intuit announced it is cutting 17% of its workforce, affecting about 3,000 employees. As highlighted by Barron's, the company stated this decision was made to "simplify its organization." This move comes as the company's CEO credits its AI-driven expert platform strategy for driving growth.

Intuit's financial metrics provide further insight into its valuation and stability. The company has a price-to-earnings (P/E) ratio of 23.12, which compares its stock price to its earnings. A low debt-to-equity ratio of 0.35 also suggests the company uses less debt than equity to finance its assets.