Intuit sees Q1 results above guidance, reiterates FY EPS outlook
Intuit (NASDAQ:INTU) expects to report Q1 results above guidance that it provided on Investor Day on September 29, 2022 and reiterated its FY2023 operating income and EPS view.

FQ1 Outlook: Revenue growth of approximately 23% to 25%, including Mailchimp vs. consensus growth of 24.3%; GAAP operating loss of $125M to $105M; Non-GAAP operating income of $469M to $489M; GAAP loss per share of $0.43 to $0.37; Non-GAAP diluted earnings per share of $1.14 to $1.20 vs. consensus of $1.19.


FY2023 Outlook: GAAP operating income of $2.794B to $2.899B, growth of approximately 9% to 13%; Non-GAAP operating income of $5.258B to $5.363B, growth of approximately 17% to 19%; GAAP diluted earnings per share of $6.92 to $7.22, a decline of approximately 5% to 1%; Non-GAAP diluted earnings per share of $13.59 to $13.89, growth of approximately 15% to 17% vs. consensus of $13.77.
âWe continue to be bullish on our small business and tax businesses, which made up 86 percent of our revenue last year, and we expect each of these segments to meet our previously issued revenue guidance for the year as we continue to accelerate innovation across the company,â said Sasan Goodarzi, Intuitâs chief executive officer.
âIn spite of the impact to Credit Karma, we are reiterating operating income and earnings per share guidance for fiscal year 2023, and expect to report first quarter results above guidance,â said Michelle Clatterbuck, Intuitâs chief financial officer.
The company is all set to release its FQ1 earnings on November 29.