Intuit drops as quarterly forecast misses estimates due to revenue getting delayed [CNBC]
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Source: CNBC
Intuit shares fell 6% in extended trading on Thursday after the finance software maker issued a revenue forecast for the current quarter that trailed analysts' estimates due to some sales getting delayed. Here's how the company performed in comparison with LSEG consensus: Revenue increased 10% year over year in the quarter, which ended on Oct. 31, according to a statement . Net income fell to $197 million, or 70 cents per share, from $241 million, or 85 cents per share, a year ago. While results for the fiscal first quarter topped estimates, second-quarter guidance was light. Intuit said it anticipates a single-digit decline in revenue from the consumer segment because of promotional changes. While that will affect revenue timing, it won't have any impact on the full 2025 fiscal year. Intuit called for second-quarter earnings of $2.55 to $2.61 per share, with $3.81 billion to $3.85 billion in revenue. The consensus from LSEG was $3.20 per share and $3.87 billion in revenue.
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