Financial software giant Intuit (INTU) exceeded Wall Street’s earnings projections for its fiscal second quarter while reporting sales in line with expectations. Despite this positive performance, the company’s stock dipped in after-hours trading as it provided a conservative outlook for the current quarter.
For the quarter ended January 31, Intuit posted adjusted earnings of $2.63 per share on revenue of $3.39 billion, marking a 20% year-over-year increase in earnings and an 11% climb in sales. These results outpaced analysts’ estimates of $2.30 per share on the bottom line.
Looking ahead to the fiscal third quarter ending April 30, Intuit anticipates adjusted earnings of $9.35 per share on revenue totaling $6.63 billion, falling short of Wall Street’s expectations. Analysts forecasted earnings of $9.70 per share on sales of $6.61 billion for the upcoming quarter.
CEO Sasan Goodarzi emphasized the company’s ongoing momentum in innovating across its product portfolio, aiming to solidify its position as a trusted assistant for consumers and small businesses seeking financial success. Despite the stock’s after-hours decline, Intuit remains focused on delivering value to its customers through platforms like TurboTax, QuickBooks, Credit Karma, and Mailchimp.
