Intuit’s Credit Karma Sees Some Customer Caution

Intuit-owned Credit Karma has seen some caution from customers on extending credit. CFO Sandeep Aujla says on a call with analysts that the overall picture for the business was mixed because of uncertain macroeconomic trends. He says select partners have been taking a conservative approach to extending their credit in personal loans and credit cards in the recently completed quarter. The unit’s revenue is still expected to come in at the upper end of guidance. Intuit now expects revenue for Credit Karma to rise 2% on the year, compared with its previous guidance of down 3% to up 3%. Intuit shares slide 7.9% to $609.96.

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