Software maker Intuit beats first-quarter estimates on resilient demand

Software maker Intuit beats first-quarter estimates on resilient demand

Intuit, the accounting software maker, reported better-than-expected first-quarter results. This can be attributed to the resilient demand for its artificial intelligence-infused products, which aid businesses in managing their financial requirements. Intuit’s product lineup includes TurboTax, Credit Karma, and QuickBooks. The company’s Q1 revenue stood at $2.98 billion, surpassing the estimated $2.88 billion. The adjusted profit per share was $2.47, exceeding analysts’ forecast of $1.98. For Q2, Intuit foresees a revenue growth of around 11% to 12%, which aligns with the analysts’ estimation of 11.9%.

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TIS Staff

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