Intuit stock dips after guiding for below-consensus Q4 earnings; Q3 results mixed
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Intuit (NASDAQ:INTU) stock drifted down 4.5% in Tuesday after-hours trading even even after the company posted fiscal Q3 revenue that fell short of Wall Street expectations and guided for below-consensus EPS in Q4. Still, it turned in stronger-than-expected earnings and raised its full-year outlook. 
The company, which provides TurboTax, Credit Karma, QuickBooks and Mailchimp, sees Q4 adjusted EPS of $1.43-$1.48, trailing the average analyst estimate of $1.51. Revenue growth for the quarter is expected to be 9%-10% Y/Y, compared with the 1.5% consensus. 
For 2023, it now anticipates adjusted EPS of $14.20-$14.25, surpassing the $13.82 consensus and up from the prior view of $13.59-$13.89. It lifted its FY23 revenue guidance to $14.28B-$14.32B, vs. $14.17B consensus, from $14.04B-$14.25B in the previous target. 
Turning to Q3 results, the provider of financial management and compliance products delivered adjusted EPS of $8.92, topping the $8.49 consensus, compared with $2.20 in the prior quarter and $7.65 a year before. 
Q3 revenue of $6.02B, missing the $6.09B consensus, jumped from $3.04B in Q2 and from $5.63B in the year-ago quarter. 
Credit Karma revenue fell 12% Y/Y to $410M in Q3, driven by headwinds in personal loans, home loans, auto loans and auto insurance, partially offset by growth in Credit Karma Money and credit cards. Small Business and Self-Employed Group revenue, though, came in at $2.0B, up 21% from a year earlier. 
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