CALIFORNIA: Just released their first quarter fiscal 2016 earnings results, beat earnings estimates by $0.12 and beating revenue expectations by $43 million.
Currently, Intuit has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Intuit:
- Beat earnings estimates. The company posted $-0.09 , surpassing our Zacks Consensus Estimate of $-0.21.
- Beat revenue estimates. The company saw revenue figures of $713 million , an increase of 17%, beating our estimate of $670 million.
- Increased total QuickBooks online subscribers outside the U.S. to 215,000, an increase of 57%, and raised GAAP and non-GAAP EPS guidance for the rest of fiscal 2016.
- “We started the fiscal year the same way we ended the last, with strong momentum across our businesses as our intense focus on our global cloud strategy takes shape,” said Brad Smith, Intuit’s president and chief executive officer. “We exceeded our subscriber and financial targets in the first quarter and have raised our earnings per share guidance for the fiscal year based on these initial strong results and our acceleration of share repurchases in the quarter.”
- INTU was up $8.37, or 8.59%, to $105.79 as of 5:20 PM ET in after hours trading shortly after its earnings report was released.
