Intuit beats earnings and revenue estimates, projects growth, and increases dividend

From Nasdaq: 2024-05-24 11:48:00

Intuit reported fiscal third-quarter 2024 non-GAAP earnings of $9.88 per share, beating estimates by 5.78%. Revenues of $6.73 billion also exceeded expectations, increasing 12% year over year. Small Business and Self-Employed Group revenues grew 18%, while the Credit Karma business contributed $443 million to total revenues.

Looking ahead, Intuit projects fiscal 2024 revenues to grow by 13% and non-GAAP earnings per share to be between $16.79 and $16.84. The company also announced a quarterly dividend increase of 15%. INTU stock has gained 6% year-to-date and holds a Zacks Rank #2 (Buy).

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Read more at Nasdaq: Intuit (INTU) Q3 Earnings Beat Estimates, Revenues Rise Y/Y