Intuit is currently a Zacks Rank #2 (Buy), which is subject to change based on today’s results. Shares of Intuit are up 50.8% over the last year and have climbed 6.3% in the last four weeks. The company’s stock did slip 0.60% on Tuesday to hit $190.54 per share prior to the release of its quarterly earnings results.
Intuit stock is currently down 0.73% to $189.15 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted adjusted earnings of $4.82 per share, beating the Zacks Consensus Estimate of $4.67 per share.
Beat revenue estimates. The company saw revenue figures of $2.93 billion, topping our consensus estimate of $2.84 billion.
Intuit saw its quarterly revenues climb by roughly 15% from $2.54 billion in the year-ago period. Meanwhile, the company, which boasts flagship products QuickBooks and TurboTax, saw its adjusted earnings surge 24%.
Intuit completed the quarter with 3.2 million QuickBooks Online subscribers, up 45% from the year-ago period.
Looking ahead, the company upped its full-year revenue guidance to between $5.915 billion and $5.935 billion, which would mark growth between 14% and 15%. This also comes in above our current estimate of $5.78 billion.
Furthermore, Intuit now expects to post adjusted full-year earnings between $5.51 per share and $5.53 share. This would mark a 25% expansion, and also tops our current estimate of $5.41 per share.
"We are pleased with our momentum across the Online Ecosystem and we are encouraged by our strong performance through the tax season, including the successful debut of TurboTax Live, which we'll continue to scale next season," CEO Brad Smith said in a statement.
Here’s a graph that looks at INTU’s Price, Consensus and EPS Surprise history:Intuit Inc. Price, Consensus and EPS Surprise
Check back later for our full analysis on INTU’s earnings report!
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