Published - August 25th, 2023 @ 4:57 PM (GMT+2)

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Earnings Overview:
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Intuit (NASDAQ:INTU), the renowned developer of TurboTax, QuickBooks, and various accounting software, recently announced a quarterly earnings of $1.65 per share. This result is notably higher than the Zacks Consensus Estimate, which stood at $1.38 per share and marks a significant improvement from last year's $1.10 per share after adjustments for non-recurring items.

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Interestingly, the company showcased an earnings surprise of 19.57%. Just a quarter before, Intuit was projected to post earnings of $8.45 per share, yet it outperformed expectations by registering $8.92 per share, a surprise of 5.56%. The tech giant has consistently beaten the consensus EPS estimates in the previous four quarters.

Revenue Highlights:
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Under the banner of Zacks Computer - Software industry, Intuit declared quarterly revenues of $2.71 billion as of July 2023. This achievement exceeds the Zacks Consensus Estimate by 2.68% and demonstrates growth from last year's revenue of $2.41 billion. The company has surpassed revenue estimates thrice in the previous four quarters.

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Financial pundits are closely watching the stock's trajectory in light of these numbers. Key insights from the management on the earnings call could influence the stock's immediate movement.

Year-to-date, Intuit's shares have risen by 28.7%, outpacing the S&P 500's progress, which stands at a gain of 15.5%.

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Considering Intuit's impressive market performance, investors are keen to understand the future trajectory of its stock. Crucial to answering this query is the company's earnings forecast. This encompasses the immediate earnings projections and any recent shifts in these expectations.

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Projected Figures:
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Historical data indicates a notable correlation between stock movements and alterations in earnings estimates. To decode such changes, investors can either do individual tracking or utilize tools like the Zacks Rank. Currently, the Zacks Rank for Intuit stands at #2 (Buy), indicating a bullish sentiment for its shares.

Industry Perspective:
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‍Post this earnings revelation, it remains to be seen how the projections for the upcoming quarters and fiscal year alter. Currently, the consensus EPS estimate pegs at $1.97 on revenues of $2.88 billion for the subsequent quarter and $15.77 on $15.89 billion for the fiscal year.

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Furthermore, the industry's outlook plays a pivotal role in a stock's performance. Presently, the Zacks Industry Rank places Computer - Software in the elite 31% of its 250+ industries. Data reveals that industries in the top echelons of Zacks rank often outperform their counterparts.

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The information on mexem.com is for general informational purposes only. It should not be regarded as investment advice. Investing in stocks involves risk. A stock's past performance is not a reliable indicator of its future performance. Always consult a financial advisor or trusted sources before making any investment decisions.
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