Intuit Stock Jumps As Financial Software Firm Crushes Targets

 Intuit Stock Jumps As Financial Software Firm Crushes Targets

Financial software firm Intuit (INTU) late Thursday crushed Wall Street’s targets for its fiscal first quarter. It also guided higher than views for the current quarter and full year. Intuit stock jumped in extended trading.




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The Mountain View, Calif.-based company earned an adjusted $1.53 a share on sales of $2.01 billion in the quarter ended Oct. 31. Wall Street expected Intuit earnings of 97 cents a share on sales of $1.81 billion, according to FactSet. On a year-over-year basis, Intuit earnings surged 63% while sales increased 52%.

For the current quarter, Intuit expects to earn an adjusted $1.86 a share on sales of $2.73 billion. That’s based on the midpoint of its guidance. Wall Street had predicted Intuit earnings of $1.54 a share on sales of $2.32 billion in the fiscal second quarter ending Jan. 31.

“We are off to a strong start in fiscal year 2022, delivering on our strategy of becoming an AI-driven expert platform…

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