Intuit Inc. (NASDAQ: INTU) has reported the adjusted earnings per share of $0.26 in the second quarter 2017 ended 31st January, beating the analysts’ estimates for the adjusted earnings per share of $0.25. The company had reported the adjusted revenue growth of 10 percent to $1.02 billion in the second quarter 2017, missing the analysts’ estimates for revenue of $1.06 billion. INTU has a net margin of 20.59% and a return on equity of 82.77%.
Moreover, INTU has posted in the second quarter the 49 percent growth in the total QuickBooks Online subscribers to more than 1.87 million subscribers. The QuickBooks Online subscribers outside the U.S. grew by 61 percent, to approximately 370,000 subscribers, with growth in the U.K., Australia, and Canada. The company has gained traction with QuickBooks Self-Employed customers growing to roughly 180,000 QuickBooks Online subscribers, up from 110,000 last quarter and 50,000 a year ago.
INTU’s small Business results are boosted by the product and platform innovation, improved product market fit outside of the U.S., and further expansion of our addressable market by targeting the self-employed segment
Intuit has reiterated full-year revenue guidance. This included full-year Consumer Tax revenue growth guidance of 6 to 8 percent and total company revenue guidance of 7 to 9 percent. INTU has released the first of two seasonal updates for its fiscal year 2017 consumer tax offerings. Through February 18th, sales of TurboTax units declined 5 percent compared to the corresponding prior-year period as the tax season is off to a slow start for all preparation methods.
The most recent Internal Revenue Service data through February 17th shows total e-filed returns fall 13 percent while self-prepared e-filings fell approximately 11 percent and assisted e-filings down 16 percent.
Intuit in the third quarter expects the earnings per share in the range of $3.85-3.90 for the period, compared to the analysts’ consensus earnings per share estimate of $3.81. The company expects the revenue for the third quarter in the range of $2.50-$2.55 billion, compared to the consensus revenue estimate of $2.46 billion. Further INTU has in FY 17 expects the earnings per share to be in the range of $4.30-$4.40.
Meanwhile, Brad Smith, chairman and chief executive officer at Intuit, will present at the Morgan Stanley Technology, Media & Telecom Conference in San Francisco, on Feb. 28th
INTU stock has risen 24.19% in a year (source: Google Finance). The stock rose over 1% in the after-hours session on Feb 23rd, 2017 (Source: Google finance).