Intuit Stock Falls 65% as TurboTax Live Grows 36%, 53% Revenue Share
HRB•Intuit shares have dropped approximately 65% from their 52-week high after conceding price-sensitive filers in its $5 billion DIY tax business. Its TurboTax Live assisted tax unit in the $37 billion category is forecast to grow revenue 36% and reach 53% of TurboTax sales, while a 17% workforce reduction supports margin expansion.
1. DIY Tax Segment Weakness
Intuit’s core do-it-yourself tax business, serving the $5 billion low-end market, has lost share on price, prompting a 65% decline in stock from its 52-week peak.
2. TurboTax Live Growth Engine
The TurboTax Live assisted tax service, covering an $37 billion market, is on track for 36% revenue growth and will account for 53% of total TurboTax revenue this year.
3. Operational Restructuring
Management is reducing full-time headcount by 17% to sharpen the cost structure, fund high-growth services and drive durable margin expansion from a three-year peak.
4. Competitive Implications for H&R Block
Intuit’s strategic pivot toward expert-driven assisted services intensifies rivalry in the tax-preparation market, challenging H&R Block’s position in the higher-value segment.
