Intuit stock retreats as fiscal Q1 earnings guidance comes in soft
Sundry Photography/iStock Editorial via Getty Images
Intuit (NASDAQ:INTU) stock gapped down as much as 3.7% in Thursday after-hours trading after delivering soft guidance for its fiscal first quarter. Still, it turned in fiscal year 2024 view for earnings that exceeded the average analyst estimate, and its full-year revenue outlook aligned with expectations. On top of that, fourth-quarter top and bottom lines came in stronger than expected. 
Q1 2024 adjusted EPS is expected to be $1.94-$2.00, trailing the $2.02 consensus. Revenue for the quarter is anticipated to grow 10%-11% from a year ago, also falling short of the 11.2% consensus. 
For the year, the provider of financial management and compliance products sees adjusted EPS of $16.17-$16.47, representing 12%-14% Y/Y growth, compared with the $15.96 consensus. 
It expects revenue of $15.890B-$16.105B, representing annual growth of 11%-12%, in line with the $15.98B consensus. 
Turning to FQ4 results, adjusted EPS of $1.65, vs. $1.44 expected, compared with $8.92 in Q3 and $1.10 in the year-earlier period. 
Revenue of $2.71B, topping the $2.64B consensus, fell from $6.02B in the prior quarter and rose from $2.41B a year before. 
Credit Karma revenue dropped 11% Y/Y to $424M, driven by macroeconomic headwinds in personal loans, auto insurance, home loans and auto loans, partially offset by growth in credit cards and Credit Karma Money. Small Business and Self-Employed Group revenue, meantime, jumped 21% to $2.1B. 
Earlier, Intuit Non-GAAP EPS of $1.65 beats by $0.21, revenue of $2.7B beats by $60M.

More on Intuit

Intuit: Aftermath Of The Acquisition Spree (Rating Downgrade)
Intuit: 30% Year-To-Date Return Is Something You Should Extrapolate Into The Future
Intuit's Compounding Magic: A Tech Investor's Dream
PayPal names Intuit's Alex Chriss as its next CEO
Earnings data for Intuit