Intuit (INTU) Tops Q2 EPS by 1c, Offers Guidance

Intuit (NASDAQ: INTU) reported Q2 EPS of $0.35, $0.01 better than the analyst estimate of $0.34. Revenue for the quarter came in at $1.17 billion versus the consensus estimate of $1.16 billion.

Intuit announced guidance for the third quarter of fiscal year 2018, which ends April 30. The company expects:

• Revenue of $2.785 billion to $2.835 billion, growth of 10 to 12 percent.
• GAAP operating income of $1.535 billion to $1.555 billion.
• Non-GAAP operating income of $1.635 billion to $1.655 billion.
• GAAP diluted earnings per share of $4.32 to $4.37.
• Non-GAAP diluted earnings per share of $4.57 to $4.62.

Intuit affirmed guidance for full fiscal year 2018. The company expects:

• Revenue of $5.640 billion to $5.740 billion, growth of 9 to 11 percent.
• GAAP operating income of $1.485 billion to $1.535 billion, growth of 6 to 10 percent.
• Non-GAAP operating income of $1.885 billion to $1.935 billion, growth of 9 to 12 percent.
• GAAP diluted earnings per share of $4.20 to $4.30, growth of 13 to 16 percent.
• Non-GAAP diluted earnings per share of $5.30 to $5.40, growth of 20 to 22 percent.
• QuickBooks Online subscribers of 3.275 million to 3.375 million.

This guidance is based on a GAAP tax rate of 26 percent and a non-GAAP tax rate of 27 percent.

(Street sees Q3 EPS of $4.67 and FY EPS of $5.33)

For earnings history and earnings-related data on Intuit (INTU) click here.

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