Intuit Inc (NASDAQ:INTU) stock rose 0.61% (As on February 23, 11:25:59 AM UTC-4, Source: Google Finance) after the company reported weaker-than-expected guidance for the current quarter that offset the tax-preparation software maker’s better-than-expected fiscal second-quarter results. For the second quarter, Intuit has increased Small Business and Self-Employed Group revenue to $2.2 billion, up 18 percent; grew Online Ecosystem revenue to $1.7 billion, up 21 percent. the company has reported Consumer Group revenue of $492 million, down 5 percent, driven by the later IRS opening this year. The IRS began accepting and processing returns starting January 29, compared to January 23 last year. the company  has reported Credit Karma revenue of $375 million, flat to a year ago. The company grew ProTax Group revenue to $274 million, up 8 percent, reflecting the timing of when tax forms were delivered. QuickBooks Online Accounting revenue grew 19 percent in the quarter, driven primarily by customer growth, higher effective prices, and mix-shift. Online Services revenue grew 24 percent, driven primarily by growth in payroll, payments, and Mailchimp. Total international online ecosystem revenue grew 16 percent on a constant currency basis.

INTU in the second quarter of FY 24 has reported the adjusted earnings per share of $2.63, beating the analysts’ estimates for the adjusted earnings per share of $2.31. The company had reported the adjusted revenue growth of 11 percent to $3.4 billion in the second quarter of FY 24, beating the analysts’ estimates for revenue of $3.39 billion.

Additionally, in the second quarter the company has reported a total cash and investments balance of approximately $1.5 billion and $6.0 billion in debt as of January 31, 2024. The company has repurchased $536 million of shares, with $2.7 billion remaining on the company’s share repurchase authorization. the company has received Board approval for a quarterly dividend of $0.90 per share, payable April 18, 2024. This represents a 15 percent increase compared to the same period last year.

For Q3, the company forecast adjusted EPS $9.31 to $9.38, missing analyst estimates for adjusted EPS of $9.70.

Looking ahead, the company reiterated its guidance for the full fiscal year 2024, forecasting adjusted earnings per share of $16.17 to $16.47 on revenue of $15.89B to $16.11B. For the full fiscal year 2024, the company expects Non-GAAP operating income of $6.155 billion to $6.260 billion, growth of approximately 12 to 14 percent.