Intuit Inc. (INTU) raises guidance after earnings, stock jumps

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  • Intuit Inc. (NASDAQ: INTU) posted revenue of US$2.0 billion, up 52% YoY, in Q1, 2022.
  • Its operating income was US$195 million, down 7% from the previous year.
  • The company has raised the guidance for the second quarter and fiscal year 2022.

Intuit Inc. (NASDAQ: INTU) stock jumped 10% on strong first-quarter results on Friday.

The California-based technology company posted revenue of US$2.0 billion, including Credit Karma revenue of US$418 million in the quarter ended Oct 30, compared to US$1.3 billion in the same period a year ago. 

The Small Business & Self-Employed group revenue was US$1.4 billion, up 22% YoY, and Grew Online ecosystem revenue was up 36% to US$845 million.

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Its operating income was US$195 million for the quarter, down 7% from the previous year, while the non-GAAP operating income was US$555 million, up 66%. 

Its EPS diluted was US$0.82 compared to US$0.75 in the previous year's first quarter.

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Full Fiscal 2022 Guidance

The company expects the revenue to be in the range of US$12.16 billion to US$12.30 billion at a growth rate of around 26% to 28% YoY. The revenue to between 18% and 20%, excluding Mailchimp, up from the earlier guidance of 15% to 16%.

The GAAP operating income is expected to be in the range of US$2.441 billion to US$2.501 billion, and non-GAAP operating income to be in the range of US$4.370 billion to US$4.430 billion.

It expects the GAAP diluted EPS to be in the range of US$7.00 to US$7.16, a decline of 7% to 5% from previous guidance, and the non-GAAP diluted EPS to be between US$11.48 and US$11.64. The non-GAAP growth is expected to increase 18% to 20% from the previous guidance of 13% to 16%.

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The second-quarter fiscal year 2022 guidance

Intuit expects revenue growth of around 73% to 74% YoY and GAAP EPS to be in the range of US$0.55 to US$0.59. The non-GAAP diluted EPS is expected to be between US$1.84 and US$1.88.

Intuit offers small-business accounting software and professional and personal tax solutions. 

Its current market capitalization is US$196 billion and has a P/E ratio of 91.58. The dividend yield is 0.43%, with an annualized dividend of US$2.72.

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The company helps small businesses and consumers in overcoming challenges in finance. The company has over 100 million customers across the world on its various platforms.           



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