Intuit Inc. (NASDAQ:INTU) announced first quarter fiscal 2024 adjusted earnings per share (EPS) of $2.47, surpassing the analyst consensus forecast of $1.98.
The global financial technology platform’s revenue for the period, meanwhile, rose 15% year over year to $3.0 billion, also exceeding Wall Street expectations of $2.88 billion.
Intuit’s revenue growth for 1Q was led by its Consumer Group and ProTax Group sales that increased 25% and 24%, respectively.
Its QuickBooks online accounting revenue also improved 19% in the quarter, driven primarily by factors such as customer growth and higher effective prices.
"With data and AI core to our strategy, we're accelerating innovation across our global financial technology platform to power the prosperity of consumers and small businesses," Intuit CEO Sasan Goodarzi said in a statement.
Looking ahead, the company sees 2Q 2024 adjusted EPS of between $2.25 and $2.31, which is less than the $2.56 analyst consensus estimate.
Shares of Intuit rose as much as 1% in Tuesday’s after-hours session and have gained 45% year to date.
Contact Sean at sean@proactiveinvestors.com