Mailchimp Just Became Intuit’s Problem Child

That wraps up our initial coverage of Intuit’s Q4 results. Thank you for stopping by!

Intuit’s biggest growth initiatives are quickly becoming too large for investors to dismiss. The company’s “Big Bets” grew 34% in fiscal 2026 and generated 30% of total revenue, helping Intuit surpass $20 billion in annual sales for the first time. By comparison, companywide revenue increased 14%.

The underlying businesses also showed strong momentum. QuickBooks Online Accounting revenue grew 23% for the year, TurboTax Live surged 37%, and Credit Karma climbed 20%.

Intuit’s fiscal 2027 outlook calls for another 9-10% of total growth, with Global Business Solutions projected to expand 13-14%. The bull case now depends on these faster-growing platforms becoming large enough to offset maturity in the traditional tax business.

Intuit shares just plunged 16% after results dropped despite delivering a decisive beat on both the top and bottom lines.

Fiscal fourth-quarter adjusted earnings reached $4.03 per share, topping the $3.58 analyst estimate by 12.57%. Revenue climbed 13.65% year over year to $4.354 billion, also surpassing the $4.268 billion consensus estimate.

The sharp selloff suggests investors found something troubling beneath the headline results, likely in Intuit’s outlook or commentary surrounding future growth.

With the stock already down more than 40% this year before tonight’s report, investors clearly demanded more than another quarterly beat.

Top 5 Analyst Questions:

1. Is price-sensitive DIY TurboTax weakness stabilizing under the new value-based pricing approach?
2. Did Q4 land within the $3.56 to $3.62 non-GAAP EPS guide?
3. Any FY2027 revenue framework, given TTM revenue of $20.9 billion?
4. Intuit Enterprise Suite pipeline after 37% QoQ contract growth?
5. Pace of the $8 billion buyback?

Key Topics, Buzzwords, and Red Flags:

• Key topics management must address: execution of the 17% workforce reduction, Mailchimp trajectory, AI consumption-based monetization, and Credit Karma cross-sell.
• Buzzwords to listen for: “system of intelligence,” “done-for-you,” “velocity,” “AI-native ERP.”
• Red flags: restructuring above $340 million, softer FY27 guide, Mailchimp declines deepening, or Credit Karma slowing off 15% growth.

Shares sit at $358.73, with Polymarket pricing a beat at 95.5%.

Intuit reports fiscal fourth-quarter results after today’s closing bell, with investors looking beyond the company’s expected $300-$340 million in restructuring charges.

Shares have rebounded about 24.83% over the past month but remain down 43.62% year to date, leaving tonight’s report as a major test of whether the stock can continue its recovery.

The stock trades at 22x trailing earnings and just 13x forward earnings, while Polymarket traders assign a 95.5% probability of an earnings beat.

Investors will focus on TurboTax Live, Credit Karma monetization, and adoption of Intuit’s Enterprise Suite. A clean fiscal 2027 outlook and credible AI monetization roadmap could reframe the debate around the company’s durability.