Intuit's Stock Surges on Strong Quarterly Earnings

Published 1 hours agoINTU

Intuit's Stock Surges on Strong Quarterly Earnings

Intuit Inc. saw its stock jump significantly on Friday, bolstered by an impressive quarterly performance that surpassed analysts' expectations. The company reported adjusted earnings per share (EPS) of $3.32 for the quarter ending January 31, which exceeded the consensus estimate of $2.58. Additionally, Intuit's revenues reached $3.96 billion, outperforming the anticipated $3.83 billion, as reported by Investing.com.

A key factor driving Intuit's strong results was the growing demand for its AI-enhanced software offerings like TurboTax, QuickBooks, and Credit Karma, particularly during the U.S. tax season. Further adding to investor confidence, Intuit announced a 16% hike in its quarterly dividend, raising it to $1.04 per share, payable on April 18.

Intuit remains optimistic about the rest of the fiscal year, providing positive projections with an expected adjusted EPS between $19.16 and $19.36 and revenues between $18.16 billion and $18.35 billion. These solid numbers have contributed to the recent surge in Intuit's stock price, reflecting the market's positive reception of their strategic focus and performance.

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