Categories AlphaGraphs, Earnings, Finance
INTU Earnings: Intuit Q2 profit rises but misses Street view; revenue up 70%
Financial technology company Intuit Inc. (NASDAQ: INTU) on Thursday reported higher earnings and revenues for the second quarter of 2022. However, the numbers fell short of Wall Street’s estimates.
At $2.67 billion, second-quarter revenues were up 70% from the year-ago period but came in below experts’ projection. The topline benefitted from strong growth in the main operating segments.
Adjusted earnings increased to $1.55 per share in the latest quarter from $0.68 per share in the second quarter of 2021 but missed the consensus forecast. Net income, including one-off items, was $100 million or $0.35 per share, compared to $20 million or $0.07 per share last year.
Read management/analysts’ comments on Intuit’s Q2 results
Intuit’s shares traded higher on Thursday and closed the session up 6%. But they declined in the after-hours soon after the earnings announcement.
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