Intuit shares drop as quarterly forecast misses estimates due to revenue getting delayed

Intuit shares drop as quarterly forecast misses estimates due to revenue getting delayed


Intuit CEO Sasan Goodarzi speaks at the opening night of the Intuit Dome in Los Angeles on Aug. 15, 2024.

Rodin Eckenroth | Filmmagic | Getty Images

Intuit shares fell 6% in extended trading on Thursday after the finance software maker issued a revenue forecast for the current quarter that trailed analysts’ estimates due to some sales getting delayed.

Here’s how the company performed in comparison with LSEG consensus:

  • Earnings per share: $2.50 adjusted vs. 2.35 expected
  • Revenue: $3.28 billion vs. 3.14 billion

Revenue increased 10% year over year in the quarter, which ended on Oct. 31, according to a statement. Net income fell to $197 million, or 70 cents per share, from $241 million, or 85 cents per share, a year ago.

While results for the fiscal first quarter topped estimates, second-quarter guidance was light. Intuit said it anticipates a single-digit decline in revenue from the consumer segment because of promotional changes. While that will affect revenue timing, it won’t have any impact on the full 2025 fiscal year.

Intuit called for second-quarter earnings of $2.55 to $2.61 per share, with $3.81 billion to $3.85 billion in revenue. The consensus from LSEG was $3.20 per share and $3.87 billion in revenue.

For the full year, Intuit expects $19.16 to $19.36 in adjusted earnings per share on $18.16 billion to $18.35 billion in revenue. That implies revenue growth between 12% and 13%. Analysts polled by LSEG were looking for $19.33 in adjusted earnings per share and $18.26 billion in revenue.

Revenue from the Global Business Solutions Group came in at $2.5 billion in the first quarter. The figure was up 9% and inline with estimates, according to StreetAccount. Formerly known as the Small Business and Self-Employed segment, the group includes Mailchimp, QuickBooks, small business financing and merchant payment processing.

CreditKarma revenue came in at $524 million, above StreetAccount’s $430 million consensus.

At Thursday’s close, Intuit shares were up about 9% so far in 2024, while the S&P 500 has gained almost 25% in the same period.

Executives will discuss the results with analysts on a conference call starting at 4:30 p.m. ET.

WATCH: H&R Block, Intuit shares fall after report Trump admin considering a free tax-filing app

H&R Block, Intuit shares fall after report Trump admin considering a free tax-filing app



Source

The number of ‘tariff’ mentions soar past ‘AI’ on earnings calls as Trump’s trade fight alters outlook
World

The number of ‘tariff’ mentions soar past ‘AI’ on earnings calls as Trump’s trade fight alters outlook

Move over artificial intelligence. There’s a new hot topic on corporate earnings calls in 2025: tariffs. The word “tariffs” has come up on more than 350 earnings calls of S & P 500 -listed companies reporting first quarter results, according to a CNBC analysis of call transcripts compiled by AlphaSense. By contrast, the term “AI” […]

Read More
First Chinese freight ship goods hit with Trump’s 145%-plus tariffs arriving at U.S. ports
World

First Chinese freight ship goods hit with Trump’s 145%-plus tariffs arriving at U.S. ports

Container ships sit docked at the Port of Los Angeles on May 06, 2025 in San Pedro, California. Justin Sullivan | Getty Images News | Getty Images The first shipping containers carrying Chinese products that are subject to President Donald Trump’s 145% tariffs have begun arriving in U.S. ports. Seven ships carrying upward of 12,000 […]

Read More
This consumer products stock is rushing to leave China and Wall Street is betting it can pull it off
World

This consumer products stock is rushing to leave China and Wall Street is betting it can pull it off

Wall Street is optimistic SharkNinja will be able to move its sourcing completely out of China. The company, which manufactures appliances such as vacuums and the Ninja Creami ice cream maker, rallied nearly 13% on Thursday following a first-quarter earnings beat. SharkNinja raised its guidance for its fiscal-year earnings, revenue growth and adjusted EBITDA estimates. […]

Read More