Intuit Inc. INTU shares are trading lower after the company reported fourth-quarter financial results and issued guidance. Here's a summary of the details.
What To Know: Intuit reported quarterly earnings of $1.65 per share, which beat the analyst consensus estimate of $1.43, a 50% increase over earnings of $1.10 per share from the same period last year.
The company reported quarterly sales of $2.71 billion, which beat the analyst consensus estimate of $2.64 billion, a 12.34% increase over sales of $2.41 billion in the same period last year.
The company also boasted an increase in Small Business and Self-Employed Group revenue of 21% to $2.1 billion and Online Ecosystem revenue of 21%.
QuickBooks Online accounting revenue grew 22% for the quarter and 26% for the year.
The company estimates full-year 2024 revenue in a range between $15.89 billion and $16.105 billion versus the $15.99 billion estimate. Earnings per share are anticipated to be between $16.17 and $16.47 versus the $15.95 estimate.
"We had a very strong fourth quarter, ending the year with momentum, as we executed on our strategy to be the global AI-driven expert platform powering prosperity for consumers and small businesses," said Sasan Goodarzi, Intuit's CEO.
"Our overall performance demonstrates the strength of our platform and portfolio including our ability to maintain earnings power in uncertain times and expand operating margin while investing in the most important areas to drive durable long-term growth."
Related Link: What's Going On With Virgin Galactic Holdings Stock?
INTU Price Action: Shares of INTU were down 2.21% at $487.50 in the after-hours session at the time of publication, according to Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
