Intuit said it has raised its annual revenue and adjusted earnings forecasts while implementing a substantial workforce reduction as it intensifies focus on embedding artificial intelligence across its financial software offerings.
In a staff memo attributed to CEO Sasan Goodarzi, the company said the planned reduction of about 17% of its global headcount - nearly 3,000 roles - is intended to simplify the organizational structure and sharpen priorities, including its AI efforts. Intuit expects to record $300 million to $340 million in restructuring charges related to the job cuts in the fourth quarter.
According to figures reported in the company’s annual report, Intuit had approximately 18,200 employees across seven countries as of July 31, 2025. The announced reductions are therefore material to the company’s overall workforce and are being positioned as a move to streamline key areas and accelerate AI integration.
On guidance, Intuit raised its full-year revenue outlook to a range of $21.34 billion to $21.37 billion, up from the prior range of $21.00 billion to $21.19 billion. It also increased its annual adjusted profit-per-share estimate to $23.80 to $23.85, compared with the earlier projection of $22.98 to $23.18 per share.
Intuit reported that revenue for the February-April period rose 10% year-over-year to $8.56 billion. That top-line growth nonetheless fell slightly short of the average analyst estimate of $8.61 billion, based on data compiled by LSEG.
The memo highlighted TurboTax Live - the company’s service that connects filers with tax experts - as showing signs of uptake. Intuit indicated that growth in that offering may help address investor worries about the potential for generative AI tools to disrupt its consumer tax business.
Strategic partnerships with AI firms remain a central part of the company’s plan. The company specifically referenced a multi-year agreement with Anthropic announced in February as part of its broader effort to embed AI tools across platforms and to surface personalized tax, finance, accounting and marketing capabilities within AI applications.
Context and product focus
Management positioned the workforce reduction and the associated restructuring charges as steps to simplify the company and reallocate resources toward prioritized areas, most notably the integration and development of AI-enabled features across its product portfolio. The company framed TurboTax Live and its AI partnerships as strategic elements to reinforce its consumer tax franchise while evolving its platform capabilities.
While the guidance increases show management’s confidence in revenue and profitability for the full year, the company will recognize the one-time financial impact of restructuring in the near term and navigate the operational work of executing the reductions.