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Earnings preview: Intuit to report a loss in Q4

By Toby |
Earnings preview

Payroll solutions provider Intuit Inc. (NASDAQ: INTU) will report fourth-quarter financial results on Thursday, August 22, after the closing bell. The fourth quarter is Intuit’s weakest seasonal quarter due to the end of the tax season, and is likely to result in lower revenues and a swing to a loss.  

Management has projected Q4 revenues of $948 million to $968 million, representing a growth of 10-12% from last year. Non-GAAP loss per share for this period is projected to be 16 to 14 cents.

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.  

intuit q3 2019 earnings

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.

READ: Splunk Q2 2020 earnings preview

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%.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

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