Intuit Shares Fall After Q1 Results, FY25 Guidance Below Estimates

Intuit Inc. INTU reported its first-quarter results after Thursday's closing bell. Here's a look at the details from the report. 

The Details: Intuit reported quarterly earnings of $2.50 per share, which beat the analyst consensus estimate of $2.35. Quarterly revenue came in at $3.28 billion which beat the consensus estimate of $3.14 billion and is an increase over sales of $2.98 billion from the same period last year.

• Global Business Solutions Group revenue grew to $2.5 billion, up 9%.
• Online Ecosystem revenue grew to $1.9 billion, up 20%.
• Credit Karma revenue reached $524 million, up 29%.
• Consumer Group revenue fell to $176 million, down 6%.
• ProTax Group revenue dipped to $39 million, down 7%, as the company lapped the period a year ago that included the extended tax filing deadline for most California filers.

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“We’ve had a strong start to the year as we demonstrate the power of Intuit’s AI-driven expert platform strategy. By delivering ‘done-for-you’ experiences, enabled by AI with access to AI-powered human experts, we continue to fuel the success of consumers and businesses,” said Sasan Goodarzi, Intuit’s CEO.

“Our innovation and the proof points we’re observing continue to bolster our confidence in our strategy,” Goodarzi added.

Outlook: Inuit reiterated its fiscal year guidance for earnings of between $19.16 and $19.36 per share, versus the $19.33 estimate, and revenue of between $18.16 billion and $18.347 billion, versus the $18.26 billion estimate.

INTU Price Action: According to Benzinga Pro, Intuit shares are down 6.11% after-hours at $638.11 at the time of publication Thursday. 

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