JHVEPhoto
Intuit (NASDAQ:INTU) stock rose 3.0% in Thursday after-hours trading after the parent of TurboTax, QuickBooks, and Credit Karma posted strong revenue and earnings growth in the last quarter of its fiscal year and announced a new stock buyback program.
In addition, the company’s board approved a new $3.0B stock repurchase authorization, giving Intuit (INTU) a total authorization of $4.9B.
The company expects adjusted EPS of $19.16-$19.36 for the year ending July 31, 2025, vs. consensus of $19.16. Revenue is expected to rise 12%-13% to $18.16B-$18.35B vs. the average analyst estimate of $18.16B.
For fiscal Q1, it expects non-GAAP EPS of $2.33-$2.38, lower than the $2.79 consensus. Revenue growth of 5%-6% to $3.11B-$3.15B is expected vs. $3.37B consensus.
Fiscal Q4 2024 adjusted EPS of $1.99, topping the average analyst estimate of $1.85, rose from $1.65 a year ago. Revenue for the quarter ended July 31, 2024, grew 17% Y/Y to $3.18B, beating the consensus of $3.09B.
Q4 adjusted operating income climbed 16% Y/Y to $730M.
During the quarter, Intuit’s (INTU) Small Business and Self-Employed Group revenue climbed 20% to $2.56B. Its Online Ecosystem revenue grew 18% to $1.83B. QuickBooks Online Accounting revenue of $895M rose 17%, driven by customer growth, higher effective prices, and mix shift.
Consumer Group revenue of $113M dropped 12% Y/Y.
Credit Karma revenue, at $485M, rose 14%.
ProTax Group revenue increased 4% to $29M.
“We delivered very strong results for the fourth quarter and full year, and made meaningful progress with our AI-driven expert platform strategy that positions the company for durable growth in the future,” said Intuit’s (INTU) CEO Sasan Goodarzi.
Conference call at 4:30 PM ET.
Earlier, Intuit non-GAAP EPS of $1.99 beats by $0.14, revenue of $3.18B beats by $90M
