Intuit Q1 Earnings: EPS Beat, Revenue Up 15%, Data And AI 'Core To Our Strategy'
Portfolio Pulse from Adam Eckert
Intuit Inc (NASDAQ:INTU) reported a strong fiscal first-quarter with a 15% year-over-year revenue increase to $2.978 billion, surpassing the consensus estimate of $2.878 billion. Adjusted earnings were $2.47 per share, beating estimates of $1.98 per share. Notably, Small Business and Self-Employed Group revenue rose by 18%, Online Ecosystem revenue by 20%, while Credit Karma revenue declined by 5%. Consumer Group and ProTax Group revenues increased by 25% and 24%, respectively. Intuit confirmed its full-year 2024 revenue guidance of $15.89 billion to $16.105 billion and adjusted earnings expectations of $16.17 to $16.47 per share. Shares of Intuit rose 1.05% after hours to $571.
November 28, 2023 | 9:20 pm
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POSITIVE IMPACT
Intuit Inc reported higher-than-expected Q1 earnings and revenue, with significant growth in key business segments. The company reaffirmed its full-year guidance, indicating confidence in its financial outlook.
Intuit's Q1 earnings report exceeded analyst expectations, which typically leads to positive investor sentiment and can drive the stock price up in the short term. The reaffirmation of the full-year guidance suggests stability and continued confidence in the company's performance, further bolstering the positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100