Why Intuit Shares Are Rising After Hours

Intuit Inc INTU shares are trading higher in Tuesday's after-hours session after the company reported better-than-expected financial results and raised guidance.

Intuit said fiscal third-quarter revenue grew 35% year-over-year to $5.60 billion, which beat the estimate of $5.51 billion, according to data from Benzinga Pro. The company reported quarterly adjusted earnings of $7.65 per share, which beat the estimate of $7.58 per share.

"We had another strong quarter, and we are raising Intuit's revenue and operating income guidance for the fiscal year 2022," said Sasan Goodarzi, CEO of Intuit. 

Intuit now expects full-year revenue to be between $12.63 billion and $12.67 billion, representing growth of approximately 31% to 32%, which is up from previous guidance for revenue growth of 26% to 28%.

Full-year adjusted earnings are expected to be between $11.68 and $11.74 per share versus the $11.66 estimate, representing growth of approximately 20% to 21%, which is up from previous guidance for growth of 18% to 20%. 

INTU Price Action: Intuit has traded between $339.36 and $716.86 over a 52-week period.

The stock was up 3.78% in after-hours at $372.53 at press time.

Photo: Tony Webster from Flickr.