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Intuit (INTU) Reports Q3 Earnings: What Key Metrics Have to Say
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Intuit (INTU - Free Report) reported $6.02 billion in revenue for the quarter ended April 2023, representing a year-over-year increase of 6.9%. EPS of $8.92 for the same period compares to $7.65 a year ago.
The reported revenue represents a surprise of -1.19% over the Zacks Consensus Estimate of $6.09 billion. With the consensus EPS estimate being $8.45, the EPS surprise was +5.56%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Intuit performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- ProConnect: $246 million versus the seven-analyst average estimate of $253.54 million. The reported number represents a year-over-year change of -4.7%.
Revenue- Small Business- Total Online Ecosystem: $1.47 billion versus the seven-analyst average estimate of $1.44 billion. The reported number represents a year-over-year change of +23.2%.
Revenue- Consumer segment: $3.34 billion versus $3.52 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +3.2% change.
Revenue- Small Business & Self-Employed: $2.02 billion versus $1.94 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +21.2% change.
Revenue- Small Business- Total Desktop Ecosystem: $553 million versus the seven-analyst average estimate of $497.48 million. The reported number represents a year-over-year change of +16.4%.
Revenue- Credit Karma: $410 million versus $376.62 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -12.4% change.
Net revenue- Service: $5.44 billion versus the six-analyst average estimate of $5.44 billion. The reported number represents a year-over-year change of +7%.
Net revenue- Product: $583 million versus the six-analyst average estimate of $593.48 million. The reported number represents a year-over-year change of +5.2%.
Revenue- Small Business- Online Ecosystem- QuickBooks Online Accounting: $723 million versus $715.09 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +25.1% change.
Revenue- Small Business- Online Ecosystem- Online Services: $745 million compared to the $722.13 million average estimate based on six analysts. The reported number represents a change of +21.3% year over year.
Revenue- Small Business- Desktop Services and Supplies- QuickBooks Desktop Accounting: $280 million versus $221.67 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +39.3% change.
Revenue- Small Business- Desktop Ecosystem- Desktop Services and Supplies: $273 million versus the five-analyst average estimate of $272.96 million. The reported number represents a year-over-year change of -0.4%.
Shares of Intuit have returned +2.7% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Intuit (INTU) Reports Q3 Earnings: What Key Metrics Have to Say
Intuit (INTU - Free Report) reported $6.02 billion in revenue for the quarter ended April 2023, representing a year-over-year increase of 6.9%. EPS of $8.92 for the same period compares to $7.65 a year ago.
The reported revenue represents a surprise of -1.19% over the Zacks Consensus Estimate of $6.09 billion. With the consensus EPS estimate being $8.45, the EPS surprise was +5.56%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Intuit performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- ProConnect: $246 million versus the seven-analyst average estimate of $253.54 million. The reported number represents a year-over-year change of -4.7%.
- Revenue- Small Business- Total Online Ecosystem: $1.47 billion versus the seven-analyst average estimate of $1.44 billion. The reported number represents a year-over-year change of +23.2%.
- Revenue- Consumer segment: $3.34 billion versus $3.52 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +3.2% change.
- Revenue- Small Business & Self-Employed: $2.02 billion versus $1.94 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +21.2% change.
- Revenue- Small Business- Total Desktop Ecosystem: $553 million versus the seven-analyst average estimate of $497.48 million. The reported number represents a year-over-year change of +16.4%.
- Revenue- Credit Karma: $410 million versus $376.62 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -12.4% change.
- Net revenue- Service: $5.44 billion versus the six-analyst average estimate of $5.44 billion. The reported number represents a year-over-year change of +7%.
- Net revenue- Product: $583 million versus the six-analyst average estimate of $593.48 million. The reported number represents a year-over-year change of +5.2%.
- Revenue- Small Business- Online Ecosystem- QuickBooks Online Accounting: $723 million versus $715.09 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +25.1% change.
- Revenue- Small Business- Online Ecosystem- Online Services: $745 million compared to the $722.13 million average estimate based on six analysts. The reported number represents a change of +21.3% year over year.
- Revenue- Small Business- Desktop Services and Supplies- QuickBooks Desktop Accounting: $280 million versus $221.67 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +39.3% change.
- Revenue- Small Business- Desktop Ecosystem- Desktop Services and Supplies: $273 million versus the five-analyst average estimate of $272.96 million. The reported number represents a year-over-year change of -0.4%.
View all Key Company Metrics for Intuit here>>>Shares of Intuit have returned +2.7% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.