Intuit Shares Drop 10.5% After Earnings Expose DIY Tax Pricing Pressure
Updated
Updated · Trefis · Jun 6
Intuit Shares Drop 10.5% After Earnings Expose DIY Tax Pricing Pressure
3 articles · Updated · Trefis · Jun 6
Summary
Intuit shares slid 10.5% over the past week, nearing a 52-week low after earnings showed the company lost price-sensitive filers in its core DIY tax business.
Management paired that warning with stronger growth elsewhere: assisted tax, money, portfolio and mid-market segments were growing above 30%, while TurboTax Live is expected to rise 36% and make up 53% of TurboTax revenue.
The report also flagged weaker spots beyond DIY tax, with Mailchimp revenue down slightly from a year earlier and the company moving to become leaner as it adjusts operations.
History suggests the selloff may not be unusual in a broader panic: across 15 major market shocks, Intuit fell 16% on average, with its worst drawdown reaching 44% during the 2022 inflation and Fed-tightening shock.
Recoveries have often been faster than the declines—median time back to pre-shock highs was about 3 months—but the 2008-2009 crisis took roughly 26 months, underscoring the risk if core-business pressure persists.