Free Research Report as Intuit’s Revenue Grew 14%; Adjusted EPS Soared 83%
Stock Monitor: Bridgeline Digital Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 29, 2017 /
Active-Investors.com has just released a free earnings report on Intuit Inc. (INTU). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=INTU. The Company posted its financial results on November 20, 2017, for the first quarter fiscal 2018. The Company’s revenue and adjusted EPS surpassed analysts’ expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Bridgeline Digital, Inc. (BLIN), which also belongs to the Technology sector as the Company Intuit. Do not miss out and become a member today for free to access this upcoming report at: www.active-investors.com/registration-sg/?symbol=BLIN
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Intuit most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=INTU
Earnings Highlights and Summary
For three months ended October 31, 2017, Intuit’s total net revenue increased 14% to $886 million from $778 million in Q1 FY17. The Company’s revenue surpassed analysts’ expectations of $855 billion.
During Q1 FY18, the Company’s online QuickBooks subscribers increased 56% to 2.55 million on a y-o-y basis.
During Q1 FY18, Intuit’s gross profit increased 15.7% to $692 million from $598 million in the same period last year. For the reported quarter, the Company’s gross margin increased 120 basis points to 78.1% of revenue from 76.9% of revenue in Q1 FY17.
During Q1 FY18, Intuit’s operating loss was $57 million compared to operating loss of $61 million in the same period last year. During Q1 FY18, Intuit’s adjusted operating income increased 34% to $43 million from $32 million in the same period last year. For the reported quarter, the Company’s adjusted operating margin increased 80 basis points to 4.9% of revenue from 4.1% of revenue in Q1 FY17.
During Q1 FY18, Intuit’s earnings before tax (EBT) was negative $59 million compared to negative $72 million in the same period last year.
For the reported quarter, Intuit’s net loss was $17 million compared to net loss of $30 million in Q1 FY17. During Q1 FY18, the Company’s diluted EPS was negative $0.07 compared to negative $0.12 in the same period last year. During Q1 FY18, Intuit’s adjusted net income increased 93.3% to $29 million on a y-o-y basis from $15 million in the same period last year. For the reported quarter, the Company’s adjusted diluted EPS increased 83% to $0.11 on a y-o-y basis from $0.06 in Q1 FY17. Adjusted diluted EPS surpassed analysts’ expectations of $0.05.
Intuit’s Segment Details
Small Business & Self-Employed - During Q1 FY18, the Small Business & Self-Employed segment’s net revenue increased 17% to $694 million from $593 million in the same period last year. For the reported quarter, the segment’s operating income increased 25.9% to $301 million from $239 million in Q1 FY17.
Consumer - During Q1 FY18, the Consumer segment’s net revenue increased 6.8% to $78 million from $73 million in the same period last year. For the reported quarter, the segment’s operating loss was $55 million compared to operating loss of $38 million in Q1 FY17.
Strategic Partner - During Q1 FY18, the Company’s Strategic Partner segment’s net revenue increased 1.8% to $114 million from $112 million in the same period last year. For the reported quarter, the segment’s operating income increased 2.9% to $72 million from $70 million in Q1 FY17.
Balance Sheet
As on October 31, 2017, Intuit’s cash and cash equivalents was $529 million, on par with $529 million on July 31, 2017. For the reported quarter, the Company’s long-term debt decreased 3% to $425 million from $438 million in Q4 FY17.
For the reported quarter, the Company’s net accounts receivables increased 12.6% to $116 million from $103 million in Q4 FY17. For the reported quarter, the Company’s accounts payable increased 40.1% to $220 million from $157 million in Q4 FY17.
During Q1 FY18, the Company’s net cash provided by operating activities was negative $78 million compared to negative $205 million in the same period last year.
Outlook
For Q2 FY18, the Company expects revenue to be in the range of $1.16 billion to $1.18 billion and diluted EPS to be in the range of $0.08 to $0.11. Intuit estimates adjusted diluted EPS to be in the range of $0.31 to $0.34 for Q2 FY18.
For FY18, the Company expects revenue to be in the range of $5.64 billion to $5.74 billion and diluted EPS to be in the range of $4.00 to $4.10. The Company estimates adjusted diluted EPS to be in the range of $4.90 to $5.00 for fiscal 2018.
Stock Performance Snapshot
December 28, 2017 - At Thursday’s closing bell, Intuit’s stock was marginally down 0.09%, ending the trading session at $158.58. Volume traded for the day: 636.33 thousand shares. Stock performance in the last month – up 1.79%; previous three-month period – up 11.43%; past twelve-month period – up 37.35%; and year-to-date – up 38.36% After yesterday’s close, Intuit’s market cap was at $40.57 billion. Price to Earnings (P/E) ratio was at 41.92. The stock has a dividend yield of 0.98%. The stock is part of the Technology sector, categorized under the Application Software industry. This sector was up 0.1% at the end of the session.
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