Categories AlphaGraphs, Earnings, Technology
INTU Earnings: Intuit Q3 profit rises and beats Street view; revenue up 35%
Financial technology company Intuit Inc. (NASDAQ: INTU) reported higher earnings and revenues for the third quarter of 2022. The numbers also beat Wall Street’s estimates.
At $5.63 billion, third-quarter revenues were up 35% from the year-ago period and above experts’ projections. The topline benefitted from strong growth across all the main operating segments.
Adjusted earnings increased to $7.65 per share in the latest quarter from $6.07 per share in the third quarter of 2021 and exceeded the consensus forecast. Net income, including one-off items, was $1.79 billion or $6.28 per share, compared to $1.46 billion or $5.30 per share last year.
Read management/analysts’ comments on Intuit’s Q3 results
Intuit’s shares traded lower on Tuesday afternoon and closed the session down 3%. But they made strong gains in the after-hours soon after the earnings announcement.
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