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

CNBC Daily Open: All roads lead to Jerome Powell
World

CNBC Daily Open: All roads lead to Jerome Powell

Federal Reserve Chairman Jerome Powell is seen walking in Grand Teton National Park near Jackson Hole, Wyoming, on August 22, 2025. Natalie Behring | Getty Images News | Getty Images Since inflation in America peaked at 9.1% in June 2022, the U.S. Federal Reserve has made controlling price increases — by keeping interest rates high […]

Read More
Asia-Pacific markets track Wall Street gains on potential Fed rate cut
World

Asia-Pacific markets track Wall Street gains on potential Fed rate cut

Ulsan city skyline from the Hamwolru Pavilion. People can enjoy beautiful cityscape for free. Ulsan, South Korea. Insung Jeon | Moment | Getty Images Asia-Pacific rose Monday, tracking Wall Street gains after Federal Reserve Chair Jerome Powell signaled that the central bank could begin easing monetary policy next month in his widely anticipated annual speech in Jackson Hole, Wyoming. […]

Read More
Stock futures are little changed after Dow’s record close, as traders await Nvidia earnings: Live updates
World

Stock futures are little changed after Dow’s record close, as traders await Nvidia earnings: Live updates

A trader reacts on the floor at the New York Stock Exchange in New York City, U.S., August 22, 2025. Brendan McDermid | Reuters U.S. equity futures were flat on Sunday night after the Dow Jones Industrial Average catapulted to new intraday and closing records and as investors looked ahead to Nvidia earnings. Futures tied […]

Read More