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Intuit Lifts Forecasts on Strong Tax Season and AI Momentum

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Intuit raised its fourth-quarter and full-year guidance after strong demand during the U.S. tax season and growing interest in its AI-powered financial tools, sending shares up over 8% in extended trading.

The company, known for TurboTax, Credit Karma, and QuickBooks, saw a 15% year-over-year increase in third-quarter revenue to $7.75 billion, beating analysts’ estimates. Adjusted earnings per share (EPS) rose to $11.65, also topping consensus expectations of $10.91.

AI Push and Product Revamp

Intuit is preparing to launch a suite of AI agents designed to act on behalf of users, with deployment in the QuickBooks portfolio planned in the coming weeks. CFO Sandeep Aujla confirmed a revamped product lineup featuring AI agents such as “accounting” or “finance” specialists, which users will be able to purchase as add-ons to their standard plans.

“There’s going to be a new lineup, and as part of that, we will have price changes,” Aujla told Reuters.

Q4 and Annual Outlook Raised

  • Q4 Revenue Forecast: $3.72B–$3.76B (vs. $3.51B estimate)

  • Q4 Adjusted EPS: $2.63–$2.68 (vs. $2.59 estimate)

  • Full-Year Revenue Growth: ~15% (up from 12–13%)

Intuit now expects stronger growth driven by product innovation and the expansion of AI-driven tools across its offerings.

TurboTax Trends

TurboTax performance saw a strategic shift this year:

  • Paying TurboTax Online Units: Expected to rise 6%

  • Free Filings: Expected to fall by 2 million to 8 million users, as Intuit shifted focus to paid and assisted options

This reflects Intuit’s strategy to monetize more of its user base while maintaining leadership in the tax prep market.

EPAM Systems Lifts 2025 Outlook, Names New CEO as Shares Surge 10%

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EPAM Systems raised its annual revenue and earnings forecast on Thursday and announced a major leadership transition, sending its stock up about 10% in premarket trading.

The IT services and consulting firm said founder and long-time CEO Arkadiy Dobkin will become executive chairman effective September 1, while current Chief Revenue Officer Balazs Fejes will take over as the new Chief Executive Officer.

Financial Highlights:

  • 2025 revenue growth is now projected at 11.5% to 14.5%, up from the previous 10% to 14% range.

  • Full-year adjusted EPS forecast increased to $10.70–$10.95, from $10.45–$10.75.

  • Q1 revenue: $1.30 billion vs. $1.28 billion expected (LSEG data)

  • Q1 adjusted EPS: $2.41 vs. $2.27 expected

Strategic and Market Context:

  • EPAM’s diversified IT consulting services have helped it outperform peers during a cautious tech spending environment.

  • Larger rivals such as Accenture and IBM have recently faced setbacks due to U.S. federal contract cutbacks amid Trump administration spending reductions.

  • EPAM’s recent acquisition of FD Technologies’ consulting unit is strengthening its positioning in AI-driven financial services.

Looking Ahead:

  • The company also issued a second-quarter forecast that topped Wall Street expectations for both revenue and profit.

  • The leadership transition comes at a time when EPAM is shifting deeper into AI and digital transformation services, and the company says the change is aimed at accelerating innovation and global growth.

Jabil Raises 2025 Profit and Revenue Forecast Amid Data Center Demand

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Jabil (JBL.N) has raised its 2025 profit and revenue forecast, driven by strong demand for data center infrastructure amid the surge in artificial intelligence (AI) adoption. The electronic component maker surpassed Wall Street expectations for its second-quarter earnings, leading to a 6.5% rise in premarket trading on Thursday.

The AI boom has increased demand for data centers, benefiting Jabil and fueling growth in its semiconductor fabrication and test equipment business.

For the second quarter ending February 28, Jabil reported:

  • Adjusted earnings per share (EPS): $1.94, exceeding analysts’ estimate of $1.83 (LSEG data).

  • Quarterly revenue: $6.73 billion, above the forecasted $6.41 billion.

Following these strong results, Jabil updated its full-year projections:

  • Adjusted profit forecast: $8.95 per share, up from the previous $8.75.

  • Revenue forecast: $27.9 billion, revised from $27.3 billion.

Based in St. Petersburg, Florida, Jabil continues to capitalize on AI-driven growth and expanding data center investments, reinforcing its market position in high-tech manufacturing.