Tax and accounting software provider, Intuit (NASDAQ:INTU) will be announcing earnings results tomorrow after the bell. Here's what to expect.
Last quarter Intuit reported revenues of $2.98 billion, up 14.7% year on year, beating analyst revenue expectations by 3.3%. It was a solid quarter for the company, with and a decent beat of analysts' revenue estimates.
Is Intuit buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Intuit's revenue to grow 11.4% year on year to $3.39 billion, slowing down from the 13.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.31 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.
Looking at Intuit's peers in the finance and HR software segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. BlackLine (NASDAQ:BL) delivered top-line growth of 11.3% year on year, beating analyst estimates by 1.1% and Bill.com reported revenues up 22.5% year on year, exceeding estimates by 6.8%. BlackLine traded flat on the results, and Bill.com was up 16.1%.
Read the full analysis of BlackLine's and Bill.com's results on StockStory.
Investors in the finance and HR software segment have had steady hands going into the earnings, with the stocks down on average 0.3% over the last month. Intuit is up 1.5% during the same time, and is heading into the earnings with analyst price target of $636, compared to share price of $645.4.