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Intuit (INTU) Beats on Earnings, Q2 Stats You Should Know - Stocks in the News

Intuit Inc. is a software company which seeks to integrate electric finance to everyday consumers. These software products include the well-known Turbo Tax and QuickBooks Online. Investors expect much growth from the company in the long run, given its exceptionally high PE ratio of 46.39. Investors can breathe a sigh of relief though, as INTU has performed well this quarter, according to their just released earnings report.

Intuit currently has a Zacks Rank #3 (Hold). This may change upon the relatively positive news reflected in the company's Q2 earnings.

Earnings: On a BNRI basis, Intuit was expected to post a loss of 26 cents per share, though they actually reported a loss of 19 cents a share. The Street consensus for the EPS of the quarter was -$0.13, but actually reported an EPS of -$0.06. Either way, a beat by seven cents.

Revenue: The Street consensus for revenues was $786.6 million, but actual revenues came in at $808 million.

Key stats: The total number of Turbo Tax unit sales is up 11 percent through February 14, compared to the prior year period. INTU has issued downside guidance for the third quarter, and expects to see an EPS between $2.70 and $2.75, versus the Street consensus calling for an EPS of $2.88.

Stock Price: There was anticipation of an earnings beat today, as the stock was up 1.5% today by the closing bell. After the earnings report came out, after hour trading had the stock march another 3% higher.

Stay tuned for our full earnings report on INTU later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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