Intuit Stock Slumps After Warning TurboTax Could Lose 1 Million Free Users
INTUIntuit(INTU) investopedia.com·2024-05-25 01:15

Key Takeaways Intuit shares tumbled Friday as the provider of financial and other software warned it expects to lose 1 million customers who use TurboTax for free this fiscal year. The company also anticipates a drop in total TurboTax units, and the TurboTax share of total Internal Revenue Service (IRS) returns. The news came as the IRS launched a pilot program to allow taxpayers to file directly to the IRS online. Shares of Intuit (INTU) dropped close to 8% in intraday trading Friday as the provider of fin ...