Nucor earnings beat by $0.08, revenue fell short of estimates
Investing.com - Shares in Intuit (NASDAQ:INTU) jumped by nearly 8% in premarket U.S. trading on Wednesday after the TurboTax maker unveiled third-quarter revenue that topped estimates.
Demand for Intuit’s software has been bolstered by the ongoing U.S. tax season, with many Americans using the company’s artificial intelligence-enhanced offerings to help file their returns.
Along with the TurboTax return preparation service, Intuit’s suite of products also includes small-business financial software QuickBooks and personal finance platform Credit Karma. Intuit Assist, the firm’s AI enhancement, has been folded into these products.
Finance chief Sandeep Aujla noted that Intuit has seen a solid start to the tax season, adding that the group is "optimistic" about its annual results.
For the three months ended Jan, 31, the financial software company announced adjusted earnings per diluted share of $3.32 on revenue of $3.96 billion. Analysts polled by Investing.com anticipated EPS of $2.58 on revenue of $3.83B.
The company forecast adjusted diluted earnings per share of $10.89 to $10.95 on revenue of $7.550 billion to $7.600 billion in its third quarter, compared with estimates of $11.53 and $7.51 billion, respectively.
Looking ahead to 2025, adjusted per-share income is expected to be in a range of $19.16 to $19.36 on revenue of $18.160 billion to $18.347 billion.
Intuit also increased its quarterly dividend payable April 18 by 16% to $1.04 per share.
"On guidance, we believe the rest of the year still looks de-risked [...] especially when factoring in improving macro/end market demand," analysts at Wolfe Research said in a note to clients.
(Yasin Ebrahim and Reuters contributed reporting.)