Wall Street has a more optimistic view on the stock, with projections at the upper end of the management forecast range. Analysts, on an average, expect a loss of 14 cents per share on revenues of $961.9 million.
The Mountain View, California-based company has surpassed earnings
estimates in all four trailing quarters.
Intuit’s products, including QuickBooks Online and TurboTax Live continue to see strong demand and should continue to boost top-line growth. However, an increase in competition forces us to keep a close tab on the number of paying customers to look for any signs of weakness.
The market anticipates around
30% growth in QuickBooks Online subscribers in the fourth quarter.
During the last reported quarter, Intuit’s earnings and revenue topped both Wall Street’s and the company’s targets. Non-GAAP EPS grew 16% to $5.55 and revenue rose 12% to $3.27 billion.
The better-than-expected results had prompted the company to raise its full-year guidance, sending the stock up over 2%.