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For the fiscal third quarter of 2024, INTU expects revenues to grow between 10% and 11% on a year-over-year basis to the band of $6.605-$6.655 billion.
The Zacks Consensus Estimate for revenues is pegged at $6.63 billion, indicating year-over-year growth of 10.25%.
On a non-GAAP basis, Intuit anticipates earnings per share in the range of $9.31-$9.38. The consensus mark for earnings is pegged at $9.34 per share, suggesting a year-over-year rise of 4.71%.
Intuit’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 16.18%.
Let’s see how things have shaped up before the announcement.
Intuit’s fiscal third-quarter performance is expected to have benefited from steady recovery in the Small Business and Self-Employed segment.
An expanding subscriber base for Quickbooks Online and ARPC is expected to have driven solid growth in the Online Ecosystem. Intuit announced new product innovations to better serve the accounting community and small business customers through its QuickBooks online ecosystem in the to-be-reported quarter.
In the fiscal third quarter, Intuit announced the launch of QuickBooks Solopreneur, a new product designed to meet the unique needs of one-person businesses. The comprehensive tool provides a number of easy-to-use features to help solopreneurs stay in control of their finances, create trackable goals, manage business expenses to stay tax-ready and have the confidence to drive financial stability, all in one place.
The solid momentum of INTU’s leading product, QuickBooks Capital, and improving customer retention rates are anticipated to have acted as tailwinds in the quarter under review.
However, due to the ongoing macroeconomic volatility, Intuit’s business partners have been pulling back from extending their credit, risking credit performance deterioration in the near term.
This is expected to have led to modest growth in Credit Karma revenues in the quarter to be reported. The Credit Karma business contributed $375 million to Intuit’s fiscal second-quarter total revenues, which remained flat year over year due to growth in Credit Karma Money, credit cards and auto loans, offset by a decline in home loans, personal loans and auto insurance.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Intuit this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
INTU currently has an Earnings ESP of +0.41% and carries a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks With the Favorable Combination
Here are some more companies worth considering, as our model shows that these also have the right combination of elements to beat on earnings in their upcoming releases.
NVIDIA is scheduled to release first-quarter fiscal 2025 results on May 22. The Zacks Consensus Estimate for NVDA’s earnings is pegged at $5.49 per share, suggesting a significant jump from the prior-year quarter’s reported figure of $1.09.
Abercrombie & Fitch (ANF - Free Report) has an Earnings ESP of +5.10% and a Zacks Rank #2 at present.
Abercrombie & Fitch is set to report first-quarter 2024 results on May 29. The Zacks Consensus Estimate for ANF’s earnings is pegged at $1.54 per share, indicating a significant jump from the year-ago quarter’s reported figure of 39 cents.
Agilent Technologies (A - Free Report) has an Earnings ESP of +0.42% and a Zacks Rank #3 at present.
Agilent Technologies is set to report its second-quarter fiscal 2024 results on May 29. The Zacks Consensus Estimate for A’s earnings is pegged at $1.19 per share.
Image: Bigstock
Intuit (INTU) to Report Q3 Earnings: What's in the Offing?
Intuit (INTU - Free Report) is scheduled to report third-quarter fiscal 2024 results on May 23.
For the fiscal third quarter of 2024, INTU expects revenues to grow between 10% and 11% on a year-over-year basis to the band of $6.605-$6.655 billion.
The Zacks Consensus Estimate for revenues is pegged at $6.63 billion, indicating year-over-year growth of 10.25%.
On a non-GAAP basis, Intuit anticipates earnings per share in the range of $9.31-$9.38. The consensus mark for earnings is pegged at $9.34 per share, suggesting a year-over-year rise of 4.71%.
Intuit’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 16.18%.
Let’s see how things have shaped up before the announcement.
Intuit Inc. Price and EPS Surprise
Intuit Inc. price-eps-surprise | Intuit Inc. Quote
Factors to Note
Intuit’s fiscal third-quarter performance is expected to have benefited from steady recovery in the Small Business and Self-Employed segment.
An expanding subscriber base for Quickbooks Online and ARPC is expected to have driven solid growth in the Online Ecosystem. Intuit announced new product innovations to better serve the accounting community and small business customers through its QuickBooks online ecosystem in the to-be-reported quarter.
In the fiscal third quarter, Intuit announced the launch of QuickBooks Solopreneur, a new product designed to meet the unique needs of one-person businesses. The comprehensive tool provides a number of easy-to-use features to help solopreneurs stay in control of their finances, create trackable goals, manage business expenses to stay tax-ready and have the confidence to drive financial stability, all in one place.
The solid momentum of INTU’s leading product, QuickBooks Capital, and improving customer retention rates are anticipated to have acted as tailwinds in the quarter under review.
However, due to the ongoing macroeconomic volatility, Intuit’s business partners have been pulling back from extending their credit, risking credit performance deterioration in the near term.
This is expected to have led to modest growth in Credit Karma revenues in the quarter to be reported. The Credit Karma business contributed $375 million to Intuit’s fiscal second-quarter total revenues, which remained flat year over year due to growth in Credit Karma Money, credit cards and auto loans, offset by a decline in home loans, personal loans and auto insurance.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Intuit this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
INTU currently has an Earnings ESP of +0.41% and carries a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks With the Favorable Combination
Here are some more companies worth considering, as our model shows that these also have the right combination of elements to beat on earnings in their upcoming releases.
NVIDIA (NVDA - Free Report) has an Earnings ESP of +2.90% and a Zacks Rank #1 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
NVIDIA is scheduled to release first-quarter fiscal 2025 results on May 22. The Zacks Consensus Estimate for NVDA’s earnings is pegged at $5.49 per share, suggesting a significant jump from the prior-year quarter’s reported figure of $1.09.
Abercrombie & Fitch (ANF - Free Report) has an Earnings ESP of +5.10% and a Zacks Rank #2 at present.
Abercrombie & Fitch is set to report first-quarter 2024 results on May 29. The Zacks Consensus Estimate for ANF’s earnings is pegged at $1.54 per share, indicating a significant jump from the year-ago quarter’s reported figure of 39 cents.
Agilent Technologies (A - Free Report) has an Earnings ESP of +0.42% and a Zacks Rank #3 at present.
Agilent Technologies is set to report its second-quarter fiscal 2024 results on May 29. The Zacks Consensus Estimate for A’s earnings is pegged at $1.19 per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.