US Stocks Move｜Intuit drops 4.7% in after-hours trading as current fiscal year revenue and adjusted EPS guidance fall short of expectations

Gelonghui, February 27th｜Tax software manufacturer Intuit (INTU.US) fell 4.7% in after-hours trading to $376. In terms of news, Intuit announced that its revenue for the second fiscal quarter increased by 17.4% year-on-year to $4.65 billion, higher than the market expectation of $4.53 billion; adjusted earnings per share were $4.15, also higher than the market expectation of $3.68. The company maintained its quarterly dividend at $1.2 per share. Looking ahead to the third fiscal quarter, the company expects revenue to grow by 10% year-on-year to $8.53 billion, slightly above the market expectation of $8.52 billion; adjusted earnings per share are expected to be between $12.45 and $12.51, which is lower than the market expectation of $12.97. The company reaffirmed its full-year performance guidance, expecting revenue to be between $21 billion and $21.19 billion, and adjusted earnings per share to be between $22.98 and $23.18, while market expectations are $21.25 billion and $23.19, respectively.