Intuit forecasts strong quarterly profit after tax season boost
(Corrects typo in paragraph 1)
By Jaspreet Singh
Intuit forecast fourth-quarter revenue and profit above Wall Street estimates on Thursday, signaling growing demand for its artificial intelligence-driven financial management tools and sending its shares up more than 5 per cent in extended trading.
The tax filing season in the U.S. from January 27 to April 15 also helped the company report upbeat third-quarter results as many taxpayers used Intuit's software to file their federal income-tax returns.
Intuit provides financial management and compliance products such as its tax-preparation software TurboTax, personal finance portal Credit Karma and accounting software QuickBooks.
The company said it would launch AI agents, systems which can take actions for users, in the coming weeks and add these agents into its QuickBooks product portfolio.
"These agents are going to be incorporated into the lineup... we are going to be revamping our lineup. There's going to be a new lineup, and as part of that, we will have price changes," CFO Sandeep Aujla told Reuters.
In addition to the core portfolio, there will be options where customers can choose specific agents based on their needs, such as an accounting agent or a finance agent, and pay for them separately, he said.
Intuit forecast fourth-quarter revenue between $3.72 billion and $3.76 billion, above analysts' average estimate of $3.51 billion, according to data compiled by LSEG.
Adjusted profit per share expectations of $2.63 to $2.68 for the quarter ending July 31 also beat estimates of $2.59.
Revenue for the third quarter ended April 30 rose 15 per cent to $7.75 billion, beating estimates of $7.56 billion. The adjusted profit per share of $11.65 also exceeded estimates of $10.91.
Intuit also lifted fiscal 2025 forecasts. The company expects revenue growth of about 15 per cent, up from its prior forecast of 12 per cent to 13 per cent.
The company said its total TurboTax Online units, number of individual online tax returns filed using the platform, are expected to decline about 1 per cent in fiscal 2025, while the paying units are expected to grow 6 per cent.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Independent Singapore
44 minutes ago
- Independent Singapore
The 'best investment' that never fails, according to billionaire Mark Cuban
In a world fixated with stock bits of advice, startups, and shortcuts to success, business tycoon Mark Cuban knows of something much simpler, and far more potent – investing in yourself. Long before Shark Tank recognition, NBA team proprietorship, or billion-dollar exits, Cuban was just another fledgling proficient guy with no cash, no networks and contacts, and no clear path to follow. But he had something more valuable than capital – an unremitting dedication to learning. 'Some of the best investments I ever made were in myself,' Cuban says. 'I didn't have a job, didn't have any money. But I realized that if I put in the effort, I could learn almost anything.' So, he did. Cuban trained himself to program. He wrapped himself up in technology. The process was measured and frequently exasperating. But over time, that personal venture became the groundwork of a calling that would overtake his peers and disrupt industries. 'Learning is a skill,' he adds. 'And most people don't put in the time to keep learning. That's always given me a competitive advantage.' Cuban's narrative is a gripping cue that the most vital advantage in your career isn't your resume, your friends and work colleagues, or even your business model. It is YOU. In a recent article published by , here are five reasons why investing in yourself might be the shrewdest business move you'll ever make: You become your own competitive advantage Knowledge multiplies and amplifies. Whether you're into AI, trying to become a master negotiator, or leveling up your leadership abilities, every new capability makes you more flexible, respected, and irreplaceable. While others fester and deteriorate, your superiority rises. You build confidence and clarity When you invest in your development, you don't just get better—you feel better. That self-assurance becomes visible inside boardrooms and during brainstorming sessions, and when you make decisions. Clarity follows, helping you align your objectives, set up boundaries, and leading with principle. Your team mirrors your growth Effective leaders don't just have conversations about growth—they become models of it. When your team constantly sees you investing in yourself, in all probability, they'll do the same. Over time, that generates an ethos of inquisitiveness, responsibility, and nonstop development. See also Kristen Stewart discusses Underwater movie You sharpen your decision-making The higher you rise on your professional ladder, the fewer reactions and criticisms you get, and the bigger your gap in perceptions becomes. Surrounding yourself with counselors, trainers, or honest peer groups guarantees your continuous evolution as a person and as a professional. The result? You become more insightful, more adaptable, and make more calculated decisions, especially when under duress. You build resilience against burnout Leadership is tough. If you don't take care of your physical, emotional, and mental well-being, everything else is adversely affected. Investing in yourself means building resilience, not just to survive moments when you're in a crunch or feeling the heat, but to lead through them with precision and serenity. In reality, your business can only grow and thrive as quickly as you do. Abilities diminish. Markets evolve. But the energy you put into acquiring knowledge, accepting changes, adapting to them, and becoming a better version of yourself pays dividends for life. As Cuban puts it: 'It's the one investment no market crash or competitor can take away.' So, if you're speculating where to place your energy next, look inside your innermost self. That's where the genuine ROI starts.
CNA
an hour ago
- CNA
US dollar drops as investors prepare for court battle on tariffs
NEW YORK :The dollar fell on Thursday as investors prepared for U.S. President Donald Trump to battle a U.S. trade court ruling on Wednesday that blocked most of his proposed tariffs. A federal appeals court late on Thursday, however, reinstated Trump's levies on imports. The order from the United States Court of Appeals for the Federal Circuit in Washington provided no opinion or reasoning but directed the plaintiffs in the case to respond by June 5 and the administration by June 9. The greenback showed little reaction to the news. Senior Trump administration officials earlier downplayed the ruling's impact, expressing confidence it would be overturned on appeal and insisting other legal avenues are available in the interim. "Markets were quick to realize that the ruling was sort of narrow, meaning it was only focused on one aspect of the tariff plan here - emergency authorization," said Brad Bechtel, global head of FX at Jefferies in New York. "There were still plenty of other avenues for Trump." The dollar had rallied on the ruling. The U.S. currency has weakened on concerns that tariffs will slow the economy and reignite inflation, while the erratic implementation of Trump's policies is seen as denting the appeal of U.S. assets to foreign investors. "The deeper issue remains a persistent lack of clarity surrounding trade policy," said Uto Shinohara, senior investment strategist at Mesirow Currency Management in Chicago. The Federal Reserve has kept interest rates on hold on concerns about higher inflation as Fed officials wait to see how the trade policies will affect the U.S. economy. Trump, in a private meeting at the White House on Thursday, told Fed Chair Jerome Powell he was making a "mistake" by not lowering interest rates. "This is not likely to be the end of tariff policy, and in some respects, if the administration wins its appeal or opts for alternative legal paths to tariff implementation, they could aim for the tariff agenda as a whole to be more entrenched than it was previously," Goldman Sachs' forex analysts said in a report on Thursday. U.S. economic pessimism declined earlier this week after Trump on the weekend delayed a plan to impose 50 per cent tariffs on European Union imports. The euro was last up 0.73 per cent at $1.1374 after falling to $1.1209, the lowest since May 19. Against the Japanese yen, the dollar weakened 0.57 per cent to 143.99. It earlier reached 146.28, the highest since May 15. The dollar fell 0.59 per cent to 0.822 Swiss franc. The greenback also weakened on news that the number of Americans filing new applications for jobless benefits rose more than expected last week, and the unemployment rate appeared to have picked up in May, suggesting increasing layoffs as tariffs cloud the economic outlook. Investors are also watching the progress of a tax cut and spending bill that is working its way through the U.S. Congress and which is expected to add trillions in U.S. debt over the coming decade. Some Republicans have criticized it for not having enough spending cuts. Trump's budget chief said on Wednesday the White House intends to send Congress a package next week to formalize cuts made by billionaire Elon Musk's team targeting federal government spending. Longer-dated U.S. Treasury yields rose last week and demand for the Treasury's 20-year bond auction was soft due to rising concerns about the deteriorating U.S. fiscal outlook. The yen also weakened against the dollar earlier this week on reports that Japan will consider trimming issuance of super-long bonds in the wake of recent sharp yield increases in the country.
CNA
an hour ago
- CNA
CNA938 Rewind - Will they or won't they: U.S tariffs continue to cause uncertainty
CNA938 Rewind U.S President Donald Trump can celebrate a temporary reprieve for his aggressive tariff strategy, after an appeals court preserved his sweeping import duties on China and other trading partners -- for now. The short-term relief will allow the appeal process to proceed, after the U.S Court of International Trade barred most of the tariffs announced since Trump took office. Lance Alexander and Daniel Martin learn more from Kevin Chen, Associate Research Fellow with the U.S. Programme, Institute of Defence and Strategic Studies, RSIS. CNA938 Rewind - Will they or won't they: U.S tariffs continue to cause uncertainty U.S President Donald Trump can celebrate a temporary reprieve for his aggressive tariff strategy, after an appeals court preserved his sweeping import duties on China and other trading partners -- for now. The short-term relief will allow the appeal process to proceed, after the U.S Court of International Trade barred most of the tariffs announced since Trump took office. Lance Alexander and Daniel Martin learn more from Kevin Chen, Associate Research Fellow with the U.S. Programme, Institute of Defence and Strategic Studies, RSIS. 13 mins CNA938 Rewind - France is first European country Singapore has CSP with France and Singapore will grow cooperation in areas like civilian nuclear energy, intelligence sharing and defence technology. This upgrades the two nations' relationship to a comprehensive strategic partnership (CSP) – marking Singapore's first CSP with a European country. Lance Alexander and Daniel Martin speak with Dr Oh Ei Sun, Senior Fellow, Singapore Institute of International Affairs. 16 mins CNA938 Rewind - "Living & Remembering" - a film dedicated to my late Dad, by Agnes Goh In 'Culture Club', Melanie Oliveiro speaks with Agnes Goh, a Singaporean writer, producer and actress about "Living & Remembering", a 20-minute short film inspired by and dedicated to her late father K. H. Goh. "Living & Remembering" is about a young woman who uncovers the sacrifices her father made for his family. The film also shows how the father insists on fulfilling a decade-long promise—a family trip to Japan despite struggling with cancer. Goh will discuss how the film was made, how she dealt with grief while producing and writing the film, and what it was like filming scenes with the actor playing her Dad. 35 mins CNA938 Rewind - Najip Ali and Infinite Studios' Mike Wiluan - Pesta Perdana 2025 winners In 'Made in SG', Melanie Oliveiro speaks with winners of awards show, Pesta Perdana 2025, which include co-host Najip Ali. Pesta Perdana is a Mediacorp awards ceremony honouring the best in the Malay media industry in Singapore. Mike Wiluan, CEO of Infinite Studios and writer/ director of Operandi Gerhana, talks more about the period crime drama series which clinched the 'Best Drama Series', 'Best Actress' and 'Best Supporting Actor' awards. Najip talks about how the Malay entertainment industry has evolved over the decades. 19 mins
