Financial technology platform Intuit (NASDAQ: INTU) will be announcing earnings results this Tuesday after the bell. Here’s what investors should know.
Intuit met analysts’ revenue expectations last quarter, reporting revenues of $8.56 billion, up 10.4% year on year. It was a strong quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and revenue guidance for next quarter beating analysts’ expectations.
Is Intuit a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Intuit’s revenue to grow 11.4% year on year, slowing from the 20.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Intuit has a history of exceeding Wall Street’s expectations.
Looking at Intuit’s peers in the finance and hr software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. BlackLine delivered year-on-year revenue growth of 9.2%, meeting analysts’ expectations, and Paycom reported revenues up 9.8%, topping estimates by 3.5%. BlackLine traded down 8% following the results while Paycom was up 23.6%.
Read our full analysis of BlackLine’s results here and Paycom’s results here.
There has been positive sentiment among investors in the finance and hr software segment, with share prices up 16.4% on average over the last month. Intuit is up 20.9% during the same time and is heading into earnings with an average analyst price target of $444.50 (compared to the current share price of $367.56).
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