The maker of tax-preparation software TurboTax faces tough competition from rivals including H&R Block, Oracle Corp's NetSuite and Microsoft Corp's Dynamics 365 Platform.

The California-based company expects adjusted earnings per share of $1.43 to $1.48 for the fourth quarter, below analysts' expectations of $1.51, according to Refinitiv data.

"We invested heavily in our data and AI (artificial intelligence) capabilities to deliver accelerated innovation," Chief Executive Sasan Goodarzi said during a call with analysts.

Intuit reported its third-quarter revenue of $6.02 billion, also missing expectations of $6.1 billion.

Revenue at its personal finance portal Credit Karma, which the company acquired in 2020, fell 12% as rising interest rates hurt borrowings.

On an adjusted basis, the company posted a profit of $8.92 per share in the third quarter, compared with analysts' estimate of $8.48.

(Reporting by Tiyashi Datta and Kananki Deka in Bengaluru; Editing by Shilpi Majumdar)