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Intuit (INTU) Q1 CY2024 Highlights:
• Revenue: $6.74 billion vs analyst estimates of $6.64 billion (1.4% beat)
• EPS (non-GAAP): $9.88 vs analyst estimates of $9.38 (5.3% beat)
• Revenue Guidance for Q2 CY2024 is $3.08 billion at the midpoint, above analyst estimates of $3.05 billion
• Gross Margin (GAAP): 84.7%, in line with the same quarter last year
• Free Cash Flow of $3.89 billion, up from $550 million in the previous quarter
• Market Capitalization: $187.7 billion
“The era of AI is one of the most significant technology shifts in our lifetime and our strategy to be the global AI-driven expert platform is delivering significant benefits to our customers and strong results across the company,” said Sasan Goodarzi, Intuit’s chief executive officer.
Created in 1983 when founder Scott Cook watched his wife struggle to reconcile the family’s checkbook, Intuit provides tax and accounting software for small and medium-sized businesses.
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