Earnings Call Insights: Intuit (INTU) Q3 fiscal 2026
“We delivered strong overall results this quarter with Q3 revenue growing 10% as we made significant progress executing on our AI-driven expert platform strategy.” (CEO, President & Chairman Sasan Goodarzi)
Seeking Alpha’s Disclaimer: This article was automatically generated by an AI tool based on content available on the Seeking Alpha website, and has not been curated or reviewed by humans. Due to inherent limitations in using AI-based tools, the accuracy, completeness, or timeliness of such articles cannot be guaranteed. This article is intended for informational purposes only. Seeking Alpha does not take account of your objectives or your financial situation and does not offer any personalized investment advice. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank.
Sundry Photography/iStock Editorial via Getty Images
Cloudflare (NET) cratered 20% during Friday morning market action after issuing its first-quarter results and guidance and announcing a 20% reduction to its workforce.
However, financial firms were mostly upbeat on the report, finding the reduction in workforce, or RIF, will help improve the
May 5 (UPI) — Brian Armstrong, CEO of cryptocurrency exchange Coinbase, announced the company is downsizing about 14% of its workforce.
Armstrong posted a memo to employees on X saying he had made “the difficult decision to reduce the size of Coinbase” by approximately 14%, explaining it is the result of “two forces” that “are converging at the same time.”
The first of the “forces” at play is the current downturn in the crypto market, leading to a “need to adjust our cost structure now so that we emerge from this period leaner, faster and more efficient for our next phase of growth.”
The second reason cited by Armstrong is the rise of AI “changing how we work.”
“All of this has led us to an inflection point, not just for Coinbase, but for every company. The biggest risk now is not taking action. We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native. We need to return to the speed and focus of our startup founding, with AI at our core,” Armstrong wrote.
Coinbase is scheduled to report its first-quarter earnings on Saturday, with shares up nearly 4% in premarket trading.
The announcement follows other companies including Block, Pinterest, CrowdStrike and Chegg making the decision to cut jobs as a result of AI integration.
