Software maker Intuit (INTU) has reported strong financial results and raised its forward guidance.
For its fiscal first quarter, the Silicon Valley-based company announced earnings per share (EPS) of $3.34 U.S. a share, which topped the $3.09 U.S. expected on Wall Street.
Revenue totaled $3.89 billion U.S., beating the consensus estimate of $3.76 billion U.S. Sales were up 18% from a year earlier.
Intuit is known for its popular software products sch as TurboTax, QuickBooks, Credit Karma, and Mailchimp.
In terms of guidance, Intuit forecast earnings of $3.66 U.S. a share on sales of $4.53 billion U.S. for the current quarter.
While up from previous guidance, the outlook fell short of Wall Street’s expectations for earnings of $3.85 U.S. a share and sales of $4.46 billion U.S.
Management also reiterated their previous full-year guidance that calls for 12% to 13% revenue growth and 14% to 15% earnings growth.
Prior to its latest earnings print, Intuit announced a new partnership with high-profile artificial intelligence (A.I.) start-up firm OpenAI.
The deal will see Intuit bring its apps into ChatGPT and add more A.I. tools to its software products. Intuit said the multiyear contract with OpenAI is worth $100 million U.S.
INTU stock has risen 2% so far in 2025 to trade at $637.44 U.S. per share.
