By Denny Jacob
Intuit is scheduled to report its second-quarter results Thursday after the market closes. Here’s what you need to know.
NET INCOME: The tax preparation software maker is expected to post $184.1 million in net income, up from $168 million a year earlier, according to FactSet.
REVENUE: The Mountain View, Calif.-based company is expected to post $3.39 billion in revenue for the quarter ended Jan. 31, compared with $3.04 billion in the prior-year period, according to FactSet. Intuit previously forecast revenue to grow between 11% and 12% in the quarter.
ADJUSTED EARNINGS: Stripping out one-time items, earnings are expected to come in at $2.30 a share, according to FactSet.
The stock price rose about 28% during the quarter and recently traded at $636.76.
WHAT TO WATCH
–The direction of Credit Karma will be closely watched as the unit has reported multiple consecutive quarters of declining revenue. Another issue potentially raising eyebrows is the recent departures of executives, most notably with co-founder Nichole Mustard leaving.
–With tax season getting closer, look to see what Intuit has to say on what they’re seeing and hearing from their customers so far.
–Part of the strategy this tax season for Intuit is closely tied to artificial intelligence. Chief Executive Sasan Goodarzi in the prior quarter talked about how certain products and platforms including Credit Karma, TurboTax Live and Intuit Assist are using the technology to empower their customers. Look for commentary from the company on how their strategy has played out in the latest quarter and what’s to come.
Write to Denny Jacob at [email protected]
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