US Stock Market Move | Q3 revenue growth rate reached the slowest pace in two years. Intuit Inc. (INTU.US) opened with a sharp drop of over 19%.

On Thursday, Intuit Inc. (INTU.US) opened with a drop of over 19%, marking its largest decline since March 2003, and is now trading at $310.15. On the news front, Intuit Inc. released its third-quarter report on Wednesday, with revenue at $8.56 billion and adjusted earnings per share at $12.80. Analysts surveyed by LSEG had previously expected revenue of $8.61 billion and earnings per share of $12.57. It is worth mentioning that for the third quarter ending on April 30 (after the tax filing deadline), the company's revenue increased by 10% year-over-year, the slowest growth rate since 2024. Net profit increased by approximately 9% to $3.06 billion. However, Intuit Inc. has raised its performance guidance for the 2026 fiscal year. It is currently expected to have adjusted earnings per share of $23.80 to $23.85 and revenue of $21.34 billion to $21.37 billion. The consensus expectation from LSEG was earnings per share of $23.21 and revenue of $21.23 billion. Intuit Inc. CEO Sasan Goodarzi stated in a press release, "Looking ahead, we will further expand our growth engine and build an organization that can operate at a faster pace to achieve sustained long-term growth."