Intuit hits a record milestone of $20 billion in revenue—and sets the stage for a strategic pullback

Good morning.

Intuit closed fiscal 2026 with numbers that would make most software companies celebrate.

But the company is entering fiscal 2027 with a different priority: rebuilding customer acquisition, even if that means sacrificing revenue growth in the near term.

For its fiscal fourth quarter, reported Tuesday, Intuit ( No.

231 on the Fortune 500) posted revenue of $4.354 billion, ahead of Wall Street’s $4.268 billion estimate, with earnings per share of $4.03 versus the $3.58 analysts expected.

That capped a fiscal year in which the company crossed $20 billion in annual revenue for the first time, beating guidance and consensus across every metric.

The growth engine was Intuit’s “Big Bets”—Assisted Tax, Money and Mid-Market—which collectively grew 34% and now account for 30% of total revenue.

Yet investors focused less on what Intuit accomplished than on what comes next.

Shares closed down 3.37% at $357.46, then fell roughly 9% more in after-hours trading to $323.94 after Intuit issued fiscal 2027 guidance calling for revenue of $23.28 billion to $23.51 billion, below Wall Street’s $23.72 billion estimate.

The paradox: Intuit is deliberately accepting a near-term hit to revenue per customer in one of its biggest businesses in exchange for something it believes matters more over time—faster customer growth.

The company attributed the expected deceleration to a projected decline in the Desktop ecosystem, softness at Mailchimp, and a decision to accept lower average revenue per customer in TurboTax upfront to accelerate acquisition.

CEO Sasan Goodarzi framed the guidance cut as a strategic reset.

“I’m resetting expectations for the company because this is the perfect time to do it, where we can play offense,” he told analysts.

Goodarzi pointed to two priorities: continuing to scale the Big Bets, which he expects to remain Intuit’s fastest-growing businesses, while reaccelerating new-customer acquisition—a muscle he acknowledged had atrophied as Intuit built out its agentic “financial intelligence layer” platform.