Intuit Inc INTU shares are volatile in Tuesday’s after-hours session after the company reported better-than-expected financial results, but issued second-quarter earnings guidance below analyst estimates.
Intuit said fiscal first-quarter revenue increased 29% year-over-year to $2.6 billion, which beat average analyst estimates of $2.5 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.66 per share, which beat average estimates of $1.22 per share.
“While we are pleased with first quarter results, we shared earlier this month that Credit Karma experienced continuing deterioration across all verticals in the last few weeks of the first quarter. Despite this impact to Credit Karma, we are reiterating operating income and earnings per share guidance for fiscal year 2023,” said Michelle Clatterbuck, CFO of Intuit.
Intuit expects fiscal second-quarter earnings to be in a range of $1.41 to $1.45 per share versus average estimates of $2.06 per share. Second-quarter revenue is expected to grow between 8% and 9% year-over-year.
The company sees full-year earnings between $13.59 and $13.89 per share versus average estimates of $13.75 per share.
Check This Out: Looking At Intuit’s Recent Unusual Options Activity
INTU Price Action: Intuit has a 52-week high of $684.07 and a 52-week low of $339.36.
The stock was down 1.10% in after hours at $375.53 at the time of publication.
Photo: Tony Webster from Flickr.
Image and article originally from www.benzinga.com. Read the original article here.