Aug 21 (Reuters) - Intuit forecast

first-quarter revenue growth below analysts' estimates on

Thursday, indicating sluggish performance at its marketing

platform Mailchimp.

The Mountain View, California-based company's board approved

a new $3.2 billion share buyback, lifting total repurchase

authorization to $5.3 billion.

The company provides products such as tax-preparation

software TurboTax, personal finance portal Credit Karma and

accounting software QuickBooks.

Mailchimp, acquired by Intuit in 2021, is currently

experiencing challenges that are impacting the company's growth

in the Global Business Services segment.

"The one area that we call out, which is a near term

temperament to growth, is Mailchimp, but we have plans to make

sure that scores correctly, and that's exiting the year at good

pace," CFO Sandeep Aujla told Reuters.

With the launch of AI agents - systems capable of taking

actions on behalf of users - for its QuickBooks portfolio,

Intuit also raised the prices of its QuickBooks Online and

Payroll subscription services last month.

Intuit expects fiscal 2026 revenue to be between $21 billion

and $21.19 billion, largely in line with analysts' average

estimate of $21.12 billion, according to data compiled by LSEG.

For the fiscal year, its adjusted profit per share forecast

of $22.98 to $23.18 was also broadly in line with estimates of

$23.

The company's projection for first-quarter revenue growth of

14% to 15% came in below estimates of 16.1% growth.

Intuit forecast adjusted earnings per share of $3.05 to

$3.12 for the first quarter, compared with estimates of $3.07.

The fourth quarter revenue grew 20% to $3.83 billion,

beating estimates of $3.75 billion. The adjusted EPS of $2.75

also exceeded estimates of $2.66.