"Intuit is a big name in tax and personal accounting software, and its stock is Wall Street royalty, smashing the S&P Index over the company's 33 years as a publicly traded company."
"Goodarzi laid off 715 employees-unprecedented at Intuit-and hired some 700 new employees who could advance AI throughout the company, making Intuit a leading-edge business model in the AI era."
"We got sold even more [than others] in the first six weeks of the year because we were trading so much better than our peer companies."
Intuit, known for TurboTax and QuickBooks, faced significant stock declines during the SaaSpocalypse despite being an early AI adopter. CEO Sasan Goodarzi integrated AI into the company's strategy years prior, viewing it as a tool rather than a threat. He made significant workforce changes to enhance AI capabilities, positioning Intuit as a leader in the AI era. However, during the market scare, Intuit's stock was hit harder than peers, illustrating that early adoption does not shield companies from market fears.
Read at Fortune
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