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Intuit Inc. ($INTU) reported its fiscal year 2024 second quarter results, revealing a significant earnings beat with adjusted earnings per share (EPS) of $2.63, surpassing analysts' estimates of $2.30, and achieving sales of $3.39 billion, in line with expectations. This performance reflects an 11% year-over-year revenue increase, driven by an 18% growth in Small Business and Self-Employed Group revenues, notably a 21% increase in its Online Ecosystem and a 16% rise in international markets. However, Consumer revenues declined by 5% due to a later IRS opening, and Credit Karma revenues remained flat. Despite the earnings beat, Intuit's stock dipped by 2% after hours. The company also raised its quarterly dividend by 15% to $0.90, reiterating its full-year 2024 guidance for revenue growth of 11-12%, non-GAAP EBIT growth of 12-14%, and non-GAAP EPS growth of 12-14%. Additionally, Intuit provided soft guidance for the third quarter, expecting EPS below consensus but revenue above consensus, while reaffirming its full-year EPS and revenue guidance of $15.89B-$16.105B and adjusted EPS of $16.17-$16.47.
Intuit Inc $INTU Earnings: - Diluted EPS of $1.25 (+108% YoY) - Adjusted Diluted EPS of $2.63 (+20% YoY) - Revenue of $3.38 billion (+11% YoY) “We had another strong quarter as consumers and small businesses continue to rely on Intuit’s platform to power their prosperity,” said… https://t.co/0KVvAUfbOK
$INTU | Intuit Q2 Earnings: EPS Beat, Revenue Up 11%, Soft Guidance And More https://t.co/BGeFlK63Zs
Intuit beats by $0.33, reports revs in-line; guides Q3 EPS below consensus, revs above consensus; reaffirms FY24 EPS guidance, revs guidance $INTU