Inuit (INTU) Stock Jumps 5% on Upbeat Full-Year Forecast
Shares of Intuit (NASDAQ: INTU ), which provides software for tax, accounting and other financial functions, popped 5% Wednesday morning. Better yet, heading into the afternoon session, INTU stock added a bit more to the positive momentum. Buoying investors for its strong fiscal fourth-quarter earnings report, Intuit represents an economic barometer for small- and medium-sized businesses, its main base. Heading into the fiscal Q4 disclosure, covering analysts anticipated that the company, which makes popular programs like TurboTax and QuickBooks, would post revenue of $2.34 billion. Instead, Intuit rang up $2.4 billion . While this tally represented a 6% decline from the year-ago period, the downgrade reflects an earlier tax deadline this year than in 2021. Interestingly, management forecasted a revenue dip of 8% to 9%, per Barron’s . In terms of profitability, analysts targeted non-GAAP earnings of 98 cents a share. However, Intuit delivered $1.10 a share, which also beat management’s guidance for 94 cents to $1 a share.
Inuit (INTU) Stock Jumps 5% on Upbeat Full-Year Forecast
Shares of Intuit (NASDAQ: INTU ), which provides software for tax, accounting and other financial functions, popped 5% Wednesday morning. Better yet, heading into the afternoon session, INTU stock added a bit more to the positive momentum. Buoying investors for its strong fiscal fourth-quarter earnings report, Intuit represents an economic barometer for small- and medium-sized businesses, its main base. Heading into the fiscal Q4 disclosure, covering analysts anticipated that the company, which makes popular programs like TurboTax and QuickBooks, would post revenue of $2.34 billion. Instead, Intuit rang up $2.4 billion . While this tally represented a 6% decline from the year-ago period, the downgrade reflects an earlier tax deadline this year than in 2021. Interestingly, management forecasted a revenue dip of 8% to 9%, per Barron’s . In terms of profitability, analysts targeted non-GAAP earnings of 98 cents a share. However, Intuit delivered $1.10 a share, which also beat management’s guidance for 94 cents to $1 a share.