Analysts Anticipate Strong Earnings for Intuit
Wall Street analysts are forecasting that Intuit (INTU) will reveal quarterly earnings of $3.10 per share in its upcoming earnings report, marking a significant 24% increase compared to the previous year. Revenue estimates stand at $3.76 billion, reflecting a 14.6% rise from the same quarter last year. Notably, there has been no change in the consensus EPS estimate for this quarter over the last month, indicating that analysts have not altered their initial forecasts during this period.
Importance of Earnings Revisions
Before a company announces its earnings, it is crucial to consider any revisions made to earnings projections. These changes can play a significant role in predicting how investors might react to the stock following the earnings report. Research consistently shows a robust correlation between earnings estimate revisions and the short-term performance of a stock. While many investors often rely on consensus earnings and revenue estimates to evaluate a company’s quarterly performance, delving into analysts’ predictions for essential metrics can provide deeper insights into the company’s prospects.
Projected Metrics for Intuit
Analysts project that the ‘Net revenue- Global Business Solutions’ will achieve $2.95 billion, representing a year-over-year growth of 16%. Additionally, the expected ‘Net revenue- Global Business Solutions- Total Online Ecosystem’ is estimated at $2.28 billion, reflecting a 17.5% increase compared to the previous year. For ‘Net revenue- Service,’ analysts foresee a total of $3.04 billion, indicating a modest 5.3% year-over-year change.
In terms of the ‘Net revenue- Global Business Solutions Total Desktop Ecosystem,’ analysts predict a revenue of $673.98 million, which would be a 12.1% increase from the same period last year. The anticipated ‘Net revenue- Product and other’ is expected to reach $721.47 million, showing a remarkable year-over-year surge of 83.1%. Furthermore, analysts estimate ‘Net revenue- Credit Karma’ to hit $570.60 million, suggesting an 8.9% rise compared to the previous year.
The consensus for ‘Net revenue- ProTax’ stands at approximately $40.12 million, indicating a slight increase of 2.9% from the prior year’s quarter. Meanwhile, ‘Net revenue- Consumer’ is projected to be around $189.71 million, representing a 7.8% growth year over year. The forecast for ‘Net revenue- Global Business Solutions Online Ecosystem- QuickBooks Online Accounting’ is estimated at $1.15 billion, reflecting a 19.2% increase from the previous year.
Analysts also expect ‘Net revenue- Global Business Solutions- Online Ecosystem- Online Services’ to reach $1.12 billion, marking a year-over-year change of 14.1%. Additionally, predictions for ‘Net revenue- Global Business Solutions- Desktop Ecosystem- QuickBooks Desktop Accounting’ stand at $399.88 million, with a projected growth rate of 35.1%. Lastly, the estimate for ‘Net revenue- Global Business Solutions- Desktop Ecosystem- Desktop Services and Supplies’ is around $306.05 million, indicating a slight increase of 0.3% from last year.
Intuit’s Recent Performance
In the past month, Intuit’s shares have seen a slight uptick of 0.2%, compared to the Zacks S&P 500 composite, which experienced a 1.5% increase during the same period. Currently, INTU holds a Zacks Rank of #3 (Hold), suggesting that its performance may mirror that of the overall market in the near future.
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