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Intuit Exceeds Q4 Expectations with EPS of $1.99, Revenue of $3.18B; Stock Up 3%

Aug 22, 2024, 08:08 PM

Intuit Inc. reported strong fourth-quarter earnings, surpassing analysts' expectations. The company's earnings per share (EPS) reached $1.99, exceeding the estimated $1.84. Revenue for the quarter grew by 17% to $3.18 billion, surpassing the forecasted $3.08 billion. Intuit's Small Business and Self-Employed Group revenue increased by 20%, while Credit Karma revenue rose by 14%. The company's research and development expenses were lower than expected at $725 million. Intuit also announced a new $3.0 billion share repurchase authorization. For fiscal year 2025, the company projects revenue between $18.16 billion and $18.35 billion, aligning with market estimates. Full-year revenue increased by 13% to $16.3 billion. Non-GAAP EPS increased by 21%, and the Consumer segment declined by 12%. Following the earnings announcement, Intuit's stock rose by 3% in after-hours trading, reaching a two-year high.