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Intuit Earnings: INTU Stock Up 2% After Q2 EPS & Revenue Beat

Intuit (NASDAQ:INTU) earnings for the business and financial software company’s fiscal second quarter of 2020 have INTU stock up after-hours Monday. This follows its adjusted earnings per share (EPS) of $1.16 on revenue of $1.7 billion. These both beat out Wall Street’s estimates of $1.03 per share and revenue of $1.68 billion.

Intuit Earnings: INTU Stock Up 2% After Q2 EPS & Revenue Beat
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Here’s a more in-depth look at the most recent Intuit earnings report.

  • Adjusted EPS is up 16% from $1 during the same time last year.
  • Revenue comes in 13.33% higher than the $1.5 billion in the second fiscal quarter of 2019.
  • Operating income of $270 million is a 15.88% increase YoY from $233 million.
  • The Intuit earnings report also includes a net income of $240 million.
  • That’s a 26.98% increase over the company’s net income of $189 million during the same period of the year prior.

Sasan Goodarzi, CEO of Intuit, said this about the INTU stock earnings.

“We are halfway through our fiscal year and continue to see strong momentum as we make progress on our strategy to become an A.I.-driven expert platform. Tax season is well-underway and we’re focused on helping consumers make ends meet and getting their largest tax refund, while delivering the best experience across our products.”

The Intuit earnings report also the company reiterating its fiscal 2020 guidance. It still expects adjusted EPS of $7.50 to $7.60 on revenue of $7.44 billion to $7.54 billion. Meanwhile, Wall Street’s estimates are for adjusted EPS of $7.57 on revenue of $7.53 billion.

INTU stock is up 1.94% post-market Monday after closing out the day down 3.74%.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/02/intuit-earnings-have-intu-stock-moving/.

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