5 Stocks That Beat Profit Expectations

1. Intuit Inc. (NASDAQ:INTU)

Number of Hedge Fund Holders: 82

Shares of Intuit Inc. (NASDAQ:INTU) rose nearly three percent in the pre-market trading session on Wednesday, May 25, 2022, following an impressive financial performance for its fiscal third quarter.

Intuit Inc. (NASDAQ:INTU) reported adjusted earnings of $7.65 per share, up from $6.07 per share in the year-ago period. Revenue for the quarter climbed 35 percent versus last year to $5.63 billion. The results were better than analysts’ average estimate of $7.58 per share for earnings and $5.51 billion for revenue.

Intuit Inc. (NASDAQ:INTU) also released its financial outlook for the full year. The business software company expects adjusted earnings in the range of $11.68 – $11.74 per share and revenue between $12.63 – $12.67 billion. Analysts were looking for earnings of $11.66 per share and revenue of $12.32 billion for the same period.

Speaking on the results, CEO Sasan Goodarzi said:

“We are confident in our strategy and execution across the company as we become the global AI-driven expert platform powering the prosperity of consumers and small businesses. We had another strong quarter, and we are raising Intuit’s revenue and operating income guidance for fiscal year 2022.”

You can also take a peek at 10 Most Anticipated IPOs of 2022 and 10 Favorite Stocks of Dan Loeb’s Third Point.

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