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Feb 22, 09:14 PM
$INTU Beats Q2 Estimates with $2.63 EPS, $3.39B Sales; Reaffirms FY24 Outlook
Economics
Business

$INTU Beats Q2 Estimates with $2.63 EPS, $3.39B Sales; Reaffirms FY24 Outlook

Authors
  • MarketWatch
  • Barron's
  • Benzinga
7

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.

Written with ChatGPT (GPT-4).

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