Intuit (INTU) Q4 Earnings And Revenues Surpass Estimates
Zacks Investment Research | Aug 23, 2019 08:48AM ET
Intuit Inc. (NASDAQ:INTU) reported fourth-quarter fiscal 2019 results. Its non-GAAP loss was 9 cents per share, narrower than the Zacks Consensus Estimate of loss of 14 cents. Moreover, the figure was narrower than management’s guided range for a loss of 16-14 cents per share. The bottom line improved 800% on a year-over-year basis, as adjusted for the adoption of ASU 2014-09 in August last year. However, without the adjustment, the metric declined significantly from prior-year quarter’s earnings of 32 cents per share.
This tax preparation-related software maker’s revenues grossed $994 million, up 15% from the year-ago quarter’s adjusted revenues, and 1% without adjustment. The top line outpaced the consensus estimate of $961 million. Strong momentum in Online ecosystem revenues and growth in the Consumer business drove the top line.
Quarter in Detail
Segment wise, Small Business and Self-Employed Group revenues jumped 16% year over year to $905 million. This rise was primarily driven by 33% subscriber surge for QuickBooks Online, which brought the count to more than 4.5 million at the end of the fiscal fourth quarter.
Online ecosystem revenues surged 35% to $459 million. The U.S.-based subscribers of QuickBooks Online grew 25% to more than 3.2 million while international subscribers jumped 58% on a year-over-year basis to more than 1.3 million.
Within QuickBooks Online, Self-Employed subscribers increased to more than 1 million, up approximately 39% year over year. Online Services revenues grew 28%.
Intuit Inc. Price, Consensus and EPS Surprise
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