Intuit Shares Gain 3% on Q3 Earnings Beat and Raise

Intuit (NASDAQ: INTU) shares gained nearly 3% after-hours Tuesday following Q3 earnings, with EPS of $7.65 coming in better than the Street estimate of $7.58. Revenue grew 35% year-over-year to $5.6 billion, compared to the Street estimate of $5.51 billion.

Consumer Group revenue rose 32% year-over-year to $3.2 billion, and Small Business and Self-Employed Group revenue rose 42% year-over-year to $1.7 billion. Online Ecosystem revenue was up 67% to $1.2 billion, and Credit Karma revenue up 48% to $468 million.

“We are confident in our strategy and execution across the company as we become the global AI-driven expert platform powering the prosperity of consumers and small businesses,” said Sasan Goodarzi, Intuit's chief executive officer. “We had another strong quarter, and we are raising Intuit’s revenue and operating income guidance for fiscal year 2022.”

The company expects Q4 non-GAAP diluted EPS to be in the range of $0.94-$1.00 and revenue to decline approximately 8-9%, reflecting the earlier tax filing deadline this year versus last year.

For the full 2022-year, the company expects EPS in the range of $11.68-$11.74, compared to the consensus of $11.66, and revenue in the range of $12.633-12.674 billion, compared to the consensus of $12.32 billion.

Shares of Intuit were down 44% year-to-date into the results.

By Davit Kirakosyan

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