Intuit Inc. (INTU) announced a significant increase in its third-quarter profit, surpassing both the previous year's figures and Wall Street's expectations.
The company's net income for the quarter reached $2.39 billion, translating to $8.42 per share, compared to $2.09 billion, or $7.38 per share, in the same quarter last year.
When excluding specific items, Intuit reported adjusted earnings of $2.8 billion, or $9.88 per share for the period.
Analysts had forecasted earnings of $9.37 per share on average, according to data compiled by Thomson Reuters, usually excluding special items.
Revenue for the quarter rose by 11.8% to $6.73 billion, up from $6.02 billion in the previous year.
Summary of Intuit Inc.'s earnings for Q3 (GAAP):
- Earnings: $2.39 billion vs. $2.09 billion last year
- Earnings per Share (EPS): $8.42 vs. $7.38 last year
- Revenue: $6.73 billion vs. $6.02 billion last year
**Guidance:**
- Next quarter revenue forecast: $3.06-$3.09 billion
- Full-year EPS forecast: $10.78-$10.83
- Full-year revenue forecast: $16.16-$16.20 billion
