Intuit Inc. (INTU) has released its first-quarter financial results, which, despite a decline from the previous year, have surpassed market expectations.
The company posted earnings of $271 million, translating to $0.70 per share, in comparison to last year's figures of $307 million, or $0.85 per share. When excluding certain items, Intuit Inc. achieved adjusted earnings of $953 million, equating to $2.50 per share for the period.
Market analysts, as surveyed by Thomson Reuters, anticipated earnings of $2.36 per share, typically not accounting for special items.
Revenue for Intuit Inc. rose by 10.2%, amounting to $3.283 billion, up from $2.978 billion in the same quarter last year.
A closer look at Intuit Inc.'s GAAP earnings reveals:
- Quarterly earnings stood at $271 million, down from last year's $307 million.
- Earnings per share (EPS) for the first quarter were $0.70, compared to $0.85 the previous year.
- Revenue for the quarter was $3.283 billion, up from $2.978 billion last year.
**Looking Ahead:**
- For the next quarter, Intuit expects EPS to range between $2.55 and $2.61, with revenue forecasted between $3.812 billion and $3.845 billion.
- For the full year, the company projects EPS to be between $19.16 and $19.36, with expected revenue ranging from $18.160 billion to $18.347 billion.
