Intuit (NASDAQ:INTU) beat Wall Street handsomely in fiscal Q3, reporting adjusted EPS of $11.65 on $7.75 billion in revenue—versus consensus of $10.91 and $7.56 billion—driven by an “outstanding tax season” and continued momentum in QuickBooks and Credit Karma.
Q3 Highlights
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EPS Surprise History: This marks Intuit’s ninth consecutive quarter topping estimates by an average of 6%, per FMP’s Historical Earnings API.
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Revenue Growth: Up 19% YoY, lifted by TurboTax, QB Online, and strong SMB subscription adds.
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Operating Efficiency: A 56% operating margin outpaced the Street’s 54% forecast, underscoring scalable, high-margin recurring software revenue.
Upgraded Guidance Signals Confidence
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Q4 Guide: EPS of $2.63–$2.68 (vs. $2.60 expected) on $3.723–$3.760 billion in sales (vs. $3.53 billion).
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Full-Year Outlook: Now sees non-GAAP EPS of $20.07–$20.12 (18–19% growth) and revenue of $18.723–$18.760 billion (≈15% growth), up from prior 13–14% and 12–13% ranges.
Valuation and Intrinsic-Value Upside
Analysts have already lifted price targets off these results—Intuit’s consensus sits at $650 with a high of $720—according to the FMP Price Target Summary API. To quantify the impact of stronger cash flows, investors can model scenarios using FMP’s Advanced DCF API, testing how higher mid-cycle margins and growth translate into intrinsic share value.
With tax-season tailwinds still blowing and SMB demand for cloud finance tools robust, Intuit’s refreshed guidance and proven beat-and-raise pattern make it a standout in the software sector—setting the stage for another run of positive earnings revisions.
