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published in Blogs
Aug 25, 2021
Intuit (INTU, $554.02) beats fiscal Q4 earnings expectations

Intuit (INTU, $554.02) beats fiscal Q4 earnings expectations

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.

Related Tickers: INTU