Earnings forecasted below analysts’ expectations
- Intuit expects modest earnings growth in 2Q despite double-digit revenue growth
- Earnings forecasted at 62-68 cents per share, compared to 60 cents last year
- Analysts expected per-share profit of 89 cents
- Intuit’s profit surged in 1Q on strong revenue growth
- Revenue growth expected to continue at 11-12%
- Analysts expect revenue of $3.42 billion, representing over 12% growth
- Adjusted per-share earnings expected at $2.25-$2.31, compared to analysts’ $2.57
- Intuit reaffirms fiscal 2024 guidance
Intuit, the financial technology software provider, expects modest earnings growth in the fiscal second quarter despite forecasting double-digit revenue growth. The company anticipates earnings of 62 to 68 cents per share for the quarter ended January 31, 2024, compared to 60 cents in the previous year. However, analysts polled by FactSet had expected per-share profit of 89 cents. Intuit’s profit surged in the fiscal first quarter due to strong revenue growth, and the company expects this growth to continue at a rate of 11% to 12%. Analysts are predicting revenue of $3.42 billion, representing growth of over 12%. Adjusted per-share earnings are expected to be $2.25 to $2.31, falling short of analysts’ expectations of $2.57. Despite this, Intuit has reaffirmed its fiscal 2024 guidance.
Factuality Level: 7
Factuality Justification: The article provides specific information about Intuit’s expected earnings and revenue growth for the fiscal second quarter. It includes statements from the company and analysts’ expectations. However, it does not provide any additional context or analysis, making it difficult to fully assess the accuracy of the information.
Noise Level: 3
Noise Justification: The article provides information on Intuit’s earnings forecast for the fiscal second quarter and compares it to the previous year. It also includes analyst expectations for per-share profit and revenue growth. However, there is no analysis or exploration of long-term trends, antifragility, or accountability. The article stays on topic and supports its claims with data and examples, but it does not provide actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: Intuit’s earnings and revenue growth may impact the financial markets, particularly the technology sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses Intuit’s financial performance and forecasts for the fiscal second quarter. While there is no mention of an extreme event, the information provided is relevant to financial markets and investors.
Public Companies: Intuit (INTU)
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