Intuit is a financial software company that specializes in developing solutions to simplify and improve personal and business finance management
The company is best known for its flagship products like TurboTax, which assists individuals in preparing and filing taxes; QuickBooks, which provides accounting tools for small businesses; and Mint, a personal finance application that helps users track their spending and budgeting. Intuit focuses on leveraging technology and innovation to deliver user-friendly, cloud-based services that empower individuals and businesses to manage their financial affairs more effectively.
Large-cap stocks have the power to shape entire industries thanks to their size and widespread influence.
With such vast footprints, however, finding new areas for growth is much harder than for smaller, more agile players.
Shares of tax and accounting software provider, Intuit (NASDAQINTU)
jumped 13.6% in the morning session after the company delivered strong fourth-quarter 2024 results, beating analysts' billings forecasts as revenue climbed 17% year on year. Growth came from a 19% jump in its Global Business Solutions Group, powered by QuickBooks and Mailchimp, while Credit Karma revenue soared 36%, driven by rising demand for credit cards and personal loans.
Profits grew even faster. Operating income surged 61% under GAAP accounting, while non-GAAP operating income rose 26%, thanks to better margins. This strength lifted non-GAAP EPS by 26%, topping expectations.
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All three major indices were green in midday trading Wednesday as the S&P 500 and Nasdaq 100 looked to snap their four-day losing streaks. NVIDIA Corp.
Tax and accounting software provider, Intuit (NASDAQINTU) announced better-than-expected revenue in Q4 CY2024, with sales up 17% year on year to $3.96 billion. Guidance for next quarter’s revenue was better than expected at $7.58 billion at the midpoint, 1% above analysts’ estimates. Its GAAP profit of $1.67 per share was 98.1% above analysts’ consensus estimates.
Markets fell broadly Tuesday with the S&P 500 trading at five-week lows and the Nasdaq extending its three-day losing streak. The Dow Jones managed to recover midday while Wall Street digested a weaker-than-anticipated consumer confidence survey from the Conference Board, adding to concerns over the health of the U.S.
