Intuit shares gained 5.5% immediately following the announcement. INTU stock has rallied 42% so far this year
CEO Sasan Goodarzi said, “Our business continued its strong momentum in the fourth quarter, resulting in full-year revenue growth of 13%, exceeding our original guidance of 8 to 10 percent growth.”
For the full year, Intuit’s QuickBooks Online subscriber base grew 25% in the US and 58% outside the US.
Outlook
For the first quarter of 2020, the Mountain View,
California-based company expects revenues of $1.105 billion to
$1.125 billion, up 9-11%. Adjusted EPS is expected to be $0.23 to $0.25.
For the full year, Intuit anticipates revenue of $7.440
billion to $7.540 billion and adjusted EPS of $7.50 to $7.60.
Yesterday, software company Splunk (NASDAQ: SPLK) said its revenues rose 33% in the second quarter to $517 million, driven by the strong demand for its software that helps firms analyze internal data. The San Francisco, California-based big data firm reported earnings of 30 cents per share, compared to 8 cents per share a year ago.