- 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.
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.
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%.
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.
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.