Intuit (INTU) Posts Surprise Q1 EPS; Issues Solid Q2 Outlook

Intuit (NASDAQ: INTU) reported Q1 EPS of $0.09, $0.13 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $713 million versus the consensus estimate of $670.37 million.

Financial Highlights

In the first quarter Intuit:

• Reported 17 percent revenue growth, which includes the impact of ratable revenue recognition for certain desktop software offerings.
• Increased total QuickBooks Online subscribers by 57 percent.
• More than doubled QuickBooks Online subscribers outside the U.S. to 215,000.
• Repurchased $1.3 billion of its common shares.
• Raised GAAP and non-GAAP earnings per share guidance for fiscal 2016.

Guidance:

Intuit sees Q2 2016 EPS of $0.17-$0.20, versus the consensus of $0.05. Intuit sees Q2 2016 revenue of $880-900 million, versus the consensus of $823.9 million.

Intuit sees FY2016 EPS of $3.45-$3.50, versus prior guidance of $3.40-$3.45 and the consensus of $3.43.

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

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