Intuit's Earnings Top Wall Street Forecasts

2024-02-23 10:10:42

(MENAFN- Baystreet) Reddit Files Paperwork in Preparation for Public Listing

Rivian To Cut 10% Of Workforce As Earnings Disappoint

ADP Offers Marketing Solutions, Stocks Move Mildly North

DraftKings Reaps Super Bowl Rewards as Stock Gains

Nvidia Reports Blowout Earnings As Profit Rises 769% Previous Articles Subscribe to Get Small Cap News & Alerts Baystreet Staf - Friday, February 23, 2024

Intuit's Earnings Top Wall Street Forecasts Intuit (INTU) has reported better-than-expected financial results for what was the company's fiscal second quarter.
The business software company that makes popular products such as TurboTax, Credit Karma, and QuickBooks reported earnings per share of $2.63 U.S., which topped Wall Street forecasts of $2.30 U.S.
Revenue in the quarter totaled $3.40 billion U.S., up 11% from a year earlier, and in line with analyst estimates.
Sales in the company's small business and self-employed segment totaled $2.20 billion U.S., up 18% from a year ago.
The consumer segment generated revenue of $492 million U.S., down 5% year-over-year.
Credit Karma's revenue amounted to $375 million U.S., which was flat from a year ago, while the company's ProTax group earned sales of $274 million U.S., up 8%.
In terms of guidance, Intuit forecast revenue to rise 11% and its profit to come in at $9.31 U.S. to $9.38 U.S. per share in the current quarter, which includes tax season and is when the company generates about 40% of its annual revenue.
The guidance fell short of analyst expectations for $9.70 U.S. per share in profits, sending Intuit's stock down about 1%.
Before today (Feb. 23), Intuit's stock had gained 60% over the last 12 months and was trading at $657.92 U.S. per share.

About Us
Contact Us
Advertise
License Our Content
Jobs
Disclaimer
Privacy Policy

Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks

MENAFN23022024000212011056ID1107891520

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.