What's Going On With Intuit Stock Friday?
Portfolio Pulse from Nabaparna Bhattacharya
Intuit Inc. (NASDAQ:INTU) shares are trading lower on Friday in the premarket session despite reporting strong third-quarter results. Revenue increased 12% year over year to $6.737 billion, beating the consensus estimate of $6.647 billion. The company has seen increased customer preference for premium features and enhanced AI capabilities in its TurboTax software. However, the stock is down 5.33% premarket.
May 24, 2024 | 11:59 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Intuit reported strong Q3 results with a 12% revenue increase, beating estimates. Despite this, shares are down 5.33% premarket. The company has seen growth in its TurboTax software, driven by AI enhancements and increased customer spending on premium features.
Despite strong earnings and revenue growth, the stock is trading lower, likely due to lower-than-expected guidance for Q4 earnings per share. The market may be reacting to the company's cautious outlook despite its strong performance and AI-driven growth.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100