- Intuit’s adjusted EPS (Earnings Per Share) forecast surpasses the estimated figure, projecting at $16.79 to $16.84 against the estimated $16.42.
- Revenues are expected to stand between $16.16 billion and $16.20 billion, upgrading from the previously anticipated figures of $15.89 billion to $16.11 billion.
- Revenue from the Small Business and Self-Employed Group is anticipated to increase by approximately 18%.
- An increment at the higher end of 7%-8% is expected in the Consumer Group revenue.
- ProConnect Group revenue is estimated to rise between 6% and 7%.
- The adjusted EPS for the fourth quarter is expected to fall between $1.80 and $1.85, falling slightly short of the estimated $1.93.
- Fourth quarter revenues are set to grow in the range of 13% to 14%.
- The third quarter showed promising results with an adjusted EPS of $9.88 against $8.92 in the same period last year, beating the estimate of $9.38.
- The third quarter net revenue reported at $6.74 billion, a growth of 12% year on year, exceeding the estimated $6.64 billion.
- Small Business and Self-Employed Group revenue, Credit Karma revenue, and Consumer Group revenue also posted gains in the third quarter.
- R&D expenses came in at $671 million, with a 11% year on year increase yet below the estimated $713.2 million.
- Service revenue hit the $6.05 billion mark with product and other revenue bringing in $689 million.
- All growth rates are in comparison to the same period from the previous year unless otherwise mentioned.
- Intuit is expected to release a TurboTax federal tax unit comparison in the fourth quarter of its 2024 earnings.
Intuit Inc on Smartkarma
Analyst coverage of Intuit Inc on Smartkarma showcases positive sentiments from Baptista Research analysts. In their report titled “Intuit Inc.: How Significant Are Their Advancements In Artificial Intelligence Capabilities? – Financial Forecasts,” Intuit’s strong performance in the second quarter of fiscal year 2024 is highlighted. The company’s focus on becoming an AI-driven expert platform is evident with an 11% revenue growth and a promising outlook to meet the full fiscal year guidance of 11% to 12% revenue growth. Moreover, expectations of 7% to 8% revenue growth for TurboTax in the Consumer Group for the full fiscal year add to the optimistic sentiment.
In another report by Baptista Research, “Intuit Inc.: Revolutionizing Business Payments With Quickbooks Bill Pay! – Major Drivers,” Intuit Inc‘s impressive performance is reiterated with a 15% growth in total revenue. The Small Business and Self-Employed Group saw an 18% revenue surge, while the Consumer Group experienced a remarkable 25% growth. Despite a 5% decline in Credit Karma revenue aligning with Q1 expectations due to macroeconomic conditions, the overall outlook remains positive for Intuit Inc as per the analysts’ assessment on Smartkarma.
A look at Intuit Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
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Intuit Inc., a leading developer of business and financial management software, shows a promising long-term outlook based on its Smartkarma Smart Scores. With a strong rating of 4 for Growth and Momentum, Intuit Inc. is positioned for significant future expansion and market traction. The company’s emphasis on innovation and forward-thinking strategies contributes to its high scores in these key areas.
While Intuit Inc. scores moderately in Value and Dividend at 2, its resilience score of 3 indicates a stable and adaptable business model. This balance between growth potential and stability suggests that Intuit Inc. is well-positioned to navigate market fluctuations and capitalize on emerging opportunities in the tech sector. Overall, the Smartkarma Smart Scores favor a bullish outlook for Intuit Inc.’s continued success and market growth.
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Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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