Intuit Inc. (NASDAQ:INTU) shares fell 1.7% after the bell Thursday after the company issued underwhelming revenue guidance.
The company posted revenue of $2.71 billion, up 12% year-over-year, and adjusted earnings of $1.66 per share for its fiscal fourth quarter. That beat Street expectations of $2.64 billion and $1.43 per share, respectively. However, its fiscal first quarter revenue projection of $2.6 billion to $2.88 billion fell at the low end of analysts’ $2.88 billion consensus estimate.
Shares of The Gap Inc gained 1.3% after the retailer posted mixed second-quarter results. For the period ended July 29, the apparel company reported revenue of $3.55 billion, short of an expected $3.57 billion and down 8% year-over-year, along with earnings of $$0.34 per share, well ahead of an expected $0.09 per share.
Looking ahead, Gap guided for net sales to fall low single digits in the fiscal third quarter from $4.04 billion in the same quarter of 2022. Analysts had called for a 6.8% decline.
Meanwhile, Nordstrom, Inc. (NYSE:JWN) stock fell 4.3% despite better-than-expected sales and earnings for the second quarter and reaffirmed 2023 guidance.
For the three months ended July 29, 2023, the department store chain’s earnings per share (EPS) were $0.84 compared to EPS of $0.77 and adjusted EPS of $0.81 for the same period in 2022. Revenue fell by 8.3% from $4.1 billion in the year-ago quarter to $3.77 billion, above the Street estimate of $3.67 billion.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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