Ahead of Intuit (INTU) Q3 Earnings: Get Ready With Wall Street Estimates for Key Metrics
In its upcoming report, Intuit (INTU) is predicted by Wall Street analysts to post quarterly earnings of $12.48 per share, reflecting an increase of 7.1% compared to the same period last year. Revenues are forecasted to be $8.52 billion, representing a year-over-year increase of 9.9%.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company’s quarterly performance, scrutinizing analysts’ projections for some of the company’s key metrics can offer a more comprehensive perspective.
Bearing this in mind, let’s now explore the average estimates of specific Intuit metrics that are commonly monitored and projected by Wall Street analysts.
The average prediction of analysts places ‘Net revenue- Global Business Solutions’ at $3.28 billion. The estimate points to a change of +15% from the year-ago quarter.
The consensus estimate for ‘Net revenue- Global Business Solutions- Total Online Ecosystem’ stands at $2.50 billion. The estimate indicates a year-over-year change of +19%.
Analysts forecast ‘Net revenue- Consumer’ to reach $5.24 billion. The estimate indicates a year-over-year change of +29.4%.
The consensus among analysts is that ‘Net revenue- Global Business Solutions Total Desktop Ecosystem’ will reach $767.40 million. The estimate indicates a year-over-year change of +2.9%.
The combined assessment of analysts suggests that ‘Net revenue- Global Business Solutions Online Ecosystem- QuickBooks Online Accounting’ will likely reach $1.26 billion. The estimate indicates a year-over-year change of +20.3%.
Analysts’ assessment points toward ‘Net revenue- Product and other’ reaching $785.43 million. The estimate points to a change of +0.3% from the year-ago quarter.
Analysts expect ‘Net revenue- Global Business Solutions- Online Ecosystem- Online Services’ to come in at $1.24 billion. The estimate points to a change of +17% from the year-ago quarter.
It is projected by analysts that the ‘Net revenue- Service’ will reach $7.73 billion. The estimate suggests a change of +10.9% year over year.
The collective assessment of analysts points to an estimated ‘Net revenue- Global Business Solutions- Desktop Ecosystem- QuickBooks Desktop Accounting’ of $500.57 million. The estimate indicates a change of +13.3% from the prior-year quarter.
Analysts predict that the ‘Net revenue- Global Business Solutions- Desktop Ecosystem- Desktop Services and Supplies’ will reach $290.45 million. The estimate points to a change of -4.5% from the year-ago quarter.
Based on the collective assessment of analysts, ‘Cost of revenue- Cost of product and other revenue’ should arrive at $25.65 million.
View all Key Company Metrics for Intuit here>>>
Shares of Intuit have experienced a change of -2.3% in the past month compared to the +7.7% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), INTU is expected to mirror the overall market performance in the near future. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).