Intuit Inc. (NASDAQ: INTU) is having an incredibly strong start to the trading session this morning, and for good reason. The company reported earnings yesterday after the closing bell, offering strong results and even stronger expectations for the quarter ahead. As a result, investor excitement ensued, leading to gains in the stock. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:42), INTU is trading at $137.55 per share after a gain of $8.40 per share or 6.50% thus far today.
INTU Gains On Earnings
As mentioned above, Intuit is having a strong day in the market today after reporting earnings after the closing bell last night. The company reported earnings in the amount of $3.70 per share on revenue of $2.54 billion. While earnings slipped slightly from the same period one year ago, revenue was up dramatically. During the quarter, analysts expected that the company would generate earnings of $3.87 per share on revenue of $2.5 billion.
However, what proved to be exciting for investors seems to be guidance. During the fourth quarter, the company expects to generate revenue in the range between $795 million and $815 million with adjusted earnings per share coming in between $0.16 and $0.18. On the full year side of the coin, INTU is expecting to report between $5.13 billion and $5.15 billion with earnings per share coming in between $4.38 and $4.40. Both revenue and earnings for Q4 and FY17 guidance is ahead of analyst expectations.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on INTU. In particular, we’ll be following the company through the fourth quarter to see if the high bar it set with guidance is met. Also, we’re keeping a close eye on Donald Trump’s plans to change the tax code. If he simplifies the tax code, it could be a big hit to INTU. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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