Intuit Q2 Earnings: EPS Beat, Revenue Up 11%, Soft Guidance And More
Portfolio Pulse from Adam Eckert
Intuit Inc (NASDAQ:INTU) reported its fiscal Q2 earnings with an 11% year-over-year revenue increase to $3.39 billion, aligning with estimates. Adjusted EPS was $2.63, surpassing the $2.30 forecast. Revenue growth was seen across several segments, with notable increases in the Small Business and Self-Employed Group (18%) and Online Ecosystem (21%). However, Consumer Group revenue declined by 5%, and Credit Karma revenue remained flat. Intuit ended the quarter with $1.5 billion in cash and investments. The company provided a softer Q3 earnings outlook than expected but reiterated its full-year 2024 revenue and earnings guidance. Following the report, INTU shares dropped 2.12% in after-hours trading.
February 22, 2024 | 9:15 pm
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Intuit reported a strong fiscal Q2 with revenue up 11% and EPS beating estimates. However, shares dropped 2.12% after hours following soft Q3 guidance.
Intuit's fiscal Q2 earnings report showed strong performance, particularly in revenue growth and EPS exceeding expectations. However, the after-hours stock price decline can be attributed to the company's softer guidance for Q3 earnings, which fell below analyst estimates. This suggests that despite the positive performance in Q2, investor sentiment may be tempered by concerns over the company's short-term earnings potential.
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