What was Intuit's revenue in Q3 2026?

The exact figure was not disclosed, but revenue was higher than the prior year.

Why did Intuit cut 17% of its workforce?

As part of a restructuring to accelerate its AI transformation and focus the business.

What is Intuit's current dividend?

A quarterly dividend of $1.20 per share.

How much did Intuit spend on share buybacks?

$12.57 billion under its long-running buyback program.

How did Intuit's stock react to the announcement?

The stock fell 20% after the announcement.

Intuit (INTU) Cuts 17% of Jobs, Doubles Down on AI

Intuit reported higher Q3 2026 revenue and earnings, raised full-year guidance, and announced a 17% workforce reduction with a $300-340M restructuring charge. The company is accelerating its AI push, while the stock fell 20% on the news.

Intuit (NASDAQ: INTU) reported better-than-expected fiscal third-quarter 2026 results, with higher revenue and earnings, and raised its full-year guidance. Simultaneously, the company announced a 17% workforce reduction (approximately 3,000 employees) with an estimated restructuring charge of $300-340 million, as it accelerates its investment in AI-powered financial software. The stock has declined 20% since the announcement.

Key Financial Results

Metric	Q3 2026	YoY Change
Revenue	Higher	Expected
Net Income	Higher	Expected
EPS	Higher	Expected

Highlights from the Release

Workforce Reduction: 17% of employees (approx. 3,000) cut; restructuring charge of $300-340 million.
AI Focus: Accelerated push into AI-powered financial software for mid-market businesses, with new Enterprise Suite enhancements.
Share Buybacks: Completed $12.57 billion in share repurchases under its long-running program.
Dividend: Maintained quarterly dividend of $1.20 per share.

Guidance

Intuit raised its full-year fiscal 2026 revenue and earnings guidance, signaling management confidence in the new strategy.

Stock Impact

Intuit shares fell 20% after the announcement, reflecting investor concern over the restructuring's impact on near-term growth despite strong results.

What This Means for Investors

Intuit is pivoting to a more AI-centric business model while cutting costs and restructuring. This could improve margins long-term but carries execution risks in the short term.