Intuit Inc. fiscal fourth quarter earnings surpassed analysts’ expectations, while revenue surged more than +40% year-over-year.
The financial software company’s adjusted earnings came in at $1.97 a share for its fiscal fourth quarter, compared to the $1.59 a share expected by analysts polled by FactSet.
Revenue in the quarter was $2.56 billion, also beating analysts’ estimate of $2.3 billion. It was $1.8 billion in the year-ago quarter.
Intuit's Credit Karma business generated revenue of $405 million, a quarterly record for the segment. In December, Intuit closed its $3.4 billion acquisition of Credit Karma.
For its fiscal first quarter, Intuit projects revenue growth of approximately 36% to 38%. It expects non-GAAP diluted earnings per share to come in between 94 cents and 99 cents.
For the full fiscal year, Intuit expects revenue of $11.05 billion to $11.2 billion. Analysts polled by FactSet predicted $9.4 billion.