Intuit stock climbs after strong fiscal Q3 results, full-year guidance boost
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Intuit (NASDAQ:INTU) stock is gaining 3.0% in Tuesday after-hours trading after the small business, tax software and credit monitoring company posted fiscal Q3 results that topped estimates and raised its full-year guidance for both the top and bottom lines.
Q4 guidance for non-GAAP EPS of $0.94-$1.00 compares with $0.95 consensus. It expects Q4 revenue to fall ~8%-9%, reflecting the early tax filing deadline this year vs. last year.
The company now expects FY2022 non-GAAP EPS of $11.68-$11.74 vs. its prior range of $11.48-$11.64; consensus estimate of $11.66.
Intuit (INTU) increased its full-year revenue guidance to $12.633B-$12.674B from its previous range of $12.165B-$12.300B previously vs. $12.32B consensus.
It now expects stronger revenue growth from its Small Business and Self-Employed Group, ProConnect Group, and Credit Karma unit that it had previously. Small Business and Self-Employed Group revenue growth is expected to increase 36%-37% for the year, up from its previous guidance of 32%-33%. 
Consumer Group revenue growth is now projected to be 10% vs. 10%-11% previously due to weaker than expected total IRS returns.
Intuit (INTU) expects ProConnect Group revenue growth of 4%-5% for the year, up from its previous guidance of 1%-2%; Credit Karma revenue of $1.795B-$1.805B is expected vs. prior range of $1.540B-$1.565B.
The company also announced that Greg Johnson, the general manager of Intuit's (INTU) Consumer Group, is leaving on May 31 to become CEO of McAfee. Varun Krishna, senior vice president and general manager of growth products of for the Consumer Group, will become general manager of the Consumer Group.
Fiscal Q3 non-GAAP EPS of $7.65, vs. consensus of $7.58, increased from $6.07 in the year-ago quarter.
Q3 revenue of $5.63B, also beating the $5.51B average analyst estimate, grew 35% from $4.17B in Q3 FY2021.
Total costs and expenses increased to $3.24B in the quarter vs. $2.26B in the year-ago period.
Conference call at 4:30 PM ET.


Earlier, Intuit (INTU) non-GAAP EPS of $7.65 beats by $0.07, revenue of $5.63B beats by $120M