Intuit Profit Forecast Below Estimates on Marketing Spend
Intuit expects lower third-quarter profit as it boosts marketing for tools like TurboTax. Second-quarter revenue of $4.65 billion beat Wall Street expectations.
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Intuit Inc. has projected third-quarter earnings below Wall Street expectations as the company ramps up marketing investments to attract customers during the busy tax season in the United States. The third quarter is traditionally the strongest period for the financial software provider, driven by high demand for its core products including TurboTax, Credit Karma, and QuickBooks. The Internal Revenue Service began accepting federal tax returns on January 26, with the filing deadline set for April 15.
