Intuit (INTU) stock dropped 5% in the after-hours trading despite reporting better-than-expected fiscal fourth quarter results. The software company’s Q4 results are driven by robust demand for its AI-powered platform and diversified fintech offerings.
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INTU reported Q4 revenue of $3.8 billion, up 20% year-over-year and ahead of the $3.75 billion consensus estimate. Also, adjusted earnings per share (EPS) came in at $2.68, topping the $2.66 analyst forecast. The beat reflects strong execution across Intuit’s business segments, particularly in Credit Karma, TurboTax Live, and QuickBooks Online.
Particularly, Credit Karma was the standout performer, surging 34% year-over-year. This growth was fueled by strong demand for personal loans, credit cards, and auto insurance products. Also,
CEO Sasan Goodarzi credited the company’s “virtual team of AI agents and AI-enabled human experts” for driving success across consumer and business segments.