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Intuit (INTU) late Tuesday reported a surprise increase in fiscal second-quarter earnings as revenue gains in QuickBooks and Credit Karma drove the financial technology platform's consolidated top-line above Wall Street's expectations.
Adjusted per-share earnings rose to $3.32 during the three months ended Jan. 31 from $2.63 a year earlier, compared with the consensus on FactSet that called for a decrease to $2.57. Revenue increased 17% year-over-year to $3.96 billion, above the Street's $3.83 billion view.
The global business solutions group's revenue increased 19% to $2.7 billion, buoyed by a 22% rise in QuickBooks online accounting sales that reflected customer growth and higher prices, Intuit said.
Personal finance portal Credit Karma's revenue climbed 36% to $511 million, driven by credit cards, personal loans and auto insurance. The consumer group's sales rose 3% to $509 million.
The parent of tax-preparation software TurboTax affirmed its fiscal 2025 guidance. Adjusted EPS is seen growing 13% to 14% annually, reaching $19.16 to $19.36. Revenue is projected to rise 12% to 13%, totaling $18.16 billion to $18.35 billion. The consensus estimate is for adjusted EPS of $19.29 and revenue of $18.28 billion.
For the third quarter ending April 30, Intuit projected adjusted EPS of $10.89 to $10.95 and revenue between $7.55 billion to $7.6 billion. Analysts polled by FactSet are looking for $11.51 and $7.52 billion, respectively.
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