CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Intuit (INTU) up 10% as acquisitions boost bottom line

By Joyanta Acharjee

16:41, 19 November 2021

Intuit makes TurboTax software
Intuit makes TurboTax software – Photo: Shutterstock

Intuit shares spiked 10% on Friday as the company beat estimates for fiscal first-quarter 2022 earnings and upped future earnings guidance. 

The company makes financial software such as TurboTax and QuickBooks and recently acquired e-mail marketing company Mailchimp. It also bought Credit Karma almost a year ago for $3.4bn.

For the period to 31 October, net income rose to $228m (£169m) from $198m in the same period a year earlier on total net revenue of $2.01bn, up 52% from $1.32bn in last year's first quarter.

Adjusted EPS of $1.53

Adjusting earnings per share rose to $1.53 from 94 cents a year earlier. 

Analysts were expecting earnings of 97 cents on revenue of $1.81bn, according according to figures widely available on financial news sites.

As at 10:48 am EDT (UTC-5) Intuit stock was up 10% at $691.70.

What is your sentiment on INTU?

586.05
Bullish
or
Bearish
Vote to see Traders sentiment!

XRP/USD

0.62 Price
-6.740% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

BTC/USD

41,679.40 Price
-4.990% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

Gold

1,980.96 Price
-1.180% 1D Chg, %
Long position overnight fee -0.0199%
Short position overnight fee 0.0117%
Overnight fee time 22:00 (UTC)
Spread 0.30

Oil - Crude

71.02 Price
-0.600% 1D Chg, %
Long position overnight fee -0.0213%
Short position overnight fee -0.0006%
Overnight fee time 22:00 (UTC)
Spread 0.040

A strong start

"We are off to a strong start in fiscal year 2022, delivering on our strategy of becoming an AI-driven expert platform powering the prosperity of consumers and small businesses," Intuit CEO Sasan Goodarzi said in a press release. 

Looking ahead, Intuit said it now expects adjusted fiscal year 2022 earnings per share of $11.48 to $11.64 on revenue of $12.17bn to $12.3bn, up from prior guidance of earnings of $11.05 to $11.25 per share on revenue of $11.05bn to $11.2bn.

For the current fiscal second-quarter, Intuit sees adjusted earnings of $1.84 to $1.88 per share with revenue growth of 73% to 74%.

"We continue to see strong momentum and proof that our big bets are further positioning us for durable growth in the future, and we're delighted that Mailchimp has joined Intuit," Goodarzi added.

Read more: Informatica sets terms of near bn market return

Markets in this article

INTU
Intuit
586.05 USD
11.44 +2.000%
INTU
Intuit
586.05 USD
11.44 +2.000%

Related topics

Rate this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 570.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading