Intuit revenue: INTU stocks 2% after Q2 EPS & Revenue Beat

<p>Intuit (NASDAQ: INTU) revenue for the business and financial software company’s fiscal policy second quarter 2020 has INTU inventory after hours Monday. This follows the adjusted earnings per share (EPS) of $ 1.16 on revenue of $ 1.7 billion. These beat both Wall Street estimates of $ 1.03 per share and a turnover of $ 1.68 billion.

Here’s a closer look at the latest Intuit revenue report.

Adjusted earnings per share increased by 16% from $ 1 during the same period last year. Revenue was 13.33% higher than $ 1.5 billion in the second quarter of 2019. Operating profit of $ 270 million is an increase of 15.88% from $ 233 million. The Intuit revenue report also includes a net profit of $ 240 million. This is an increase of 26.98% compared to the company’s net profit of $ 189 million during the same period the year before.

Sasan Goodarzi, CEO of Intuit, said this about INTU share income.

“We are halfway through our financial year and continue to see strong momentum as we make progress in our strategy to become an AI-driven expert platform. The tax season is well underway and we focus on helping consumers end their meetings and get their biggest tax refund while delivering the best experience in our products. ”

The Intuit revenue report also repeats its guideline for the 2020 fiscal year. It still expects an adjusted profit of $ 7.50 to $ 7.60 on revenue of $ 7.44 billion to $ 7.54 billion. At the same time, Wall Street’s adjusted EPS estimates are at $ 7.57 billion on revenue of $ 7.53 billion.

The INTU share is up 1.94% after the market Monday after ending the day with 3.74%.

At the time of writing, William White had no position in any of the above securities.

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

© 2020 InvestorPlace Media, LLC