Intuit Reports Q4 Beat, Provides Guidance, Shares Up 4%
2022.08.24 00:17
Intuit Reports Q4 Beat, Provides Guidance, Shares Up 4%
By Davit Kirakosyan
Intuit (NASDAQ:INTU) shares rose more than 4% after-hours following the company’s reported Q4 results, with EPS of $1.10 coming in better than the consensus estimate of $0.99.
Revenue declined 6% year-over-year to $2.4 billion (vs. the consensus estimate of $2.34 billion) reflecting the earlier IRS tax filing deadline this year, partially offset by the addition of Mailchimp. Excluding Mailchimp, the revenue dropped 16%.
“We had a very strong fourth quarter, ending the year with momentum. We’re more confident than ever in our long-term business strategy as we power prosperity around the world,” said Sasan Goodarzi, the CEO of Intuit.
The company excepts Q1/23 EPS in the range of $1.14-$1.20, compared to the consensus estimate of $1.86. Revenue growth is expected to be in the range of 23-25%, including Mailchimp.
For the full 2023-year, the company expects EPS in the range of $13.59-$13.89, compared to the consensus of $13.81, and revenue in the range of $14.485-14.7 billion, compared to the consensus of $14.47 billion.
