Intuit Inc. (NASDAQ:INTU) stock rose 9.98% (As on Nov 19, 11:06:12 AM UTC-4, Source: Google Finance) after the company posted better than expected earnings for the first quarter of FY 22.

INTU in the first quarter of FY 22 has reported the adjusted earnings per share of $1.53, beating the analysts’ estimates for the adjusted earnings per share of 99 cents, according to figures compiled by Thomson Reuters. The company had reported the adjusted revenue growth of 52.3 percent to $2.01 billion in the first quarter of FY 22.

Additionally, the company has approved for a quarterly dividend of $0.68 per share, payable January 18, 2022. This represents a 15 percent increase compared to the same period last year.  The company has reported a total cash and investments balance of approximately $3.3 billion as of Oct. 31. On Nov. 1, the company entered into a $4.7 billion term loan under a new credit agreement to partially fund the Mailchimp acquisition. The company has repurchased $339 million of shares, with $3.0 billion remaining on the company’s share repurchase authorization.

For the second quarter of fiscal year 2022, the company expects revenue growth of approximately 73 to 74 percent and Non-GAAP diluted earnings per share of $1.84 to $1.88.

For full fiscal year 2022, the company expects revenue to be in the range of $12.165 billion to $12.300 billion, growth of approximately 26 to 28 percent, including Mailchimp as of Nov. 1 and a full year of Credit Karma. The company expects 2022 Non-GAAP operating income of $4.370 billion to $4.430 billion, growth of approximately 25 to 27 percent, up from previous guidance for growth of 16 to 18 percent. The company expects 2022 Non-GAAP diluted earnings per share to be in the range of $11.48 to $11.64, growth of approximately 18 to 20 percent, up from previous guidance for growth of 13 to 16 percent.

The company also updated segment revenue guidance for the Small business and Self-Employed Group and Credit Karma. For fiscal year 2022, the company expects Small Business and Self-Employed Group growth to be in the range of 32 to 33 percent, up from previous guidance for growth of 12 to 14 percent, reflecting 16 to 17 percent organic growth and a $760 million to $770 million contribution from the Mailchimp acquisition. Credit Karma revenue is expected to be in the range of $1.540 billion to $1.565 billion, up from previous guidance of $1.345 billion to $1.380 billion. Consumer Group growth is expected to be in the range of 10 to 11 percent. ProConnect Group growth is expected to be in the range of 1 to 2 percent.