Latest news with #ClosingBell:Overtime
CNBC
23-05-2025
- Business
- CNBC
Intuit shares pop 9% on earnings beat, rosy guidance
Shares of Intuit popped about 9% on Friday, a day after the company reported quarterly results that beat analysts' estimates and issued rosy guidance for the full year. Intuit, which is best known for its TurboTax and QuickBooks software, said revenue in the fiscal third quarter increased 15% to $7.8 billion. Net income rose 18% to $2.82 billion, or $10.02 per share, from $2.39 billion, or $8.42 per share, a year earlier. "This is the fastest organic growth that we have had in over a decade," Intuit CEO Sasan Goodarzi told CNBC's "Closing Bell: Overtime" on Thursday. "It's really incredible growth across the platform." For its full fiscal year, Intuit said it expects to report revenue of $18.72 billion to $18.76 billion, up from the range of $18.16 billion to $18.35 billion it shared last quarter. Analysts were expecting $18.35 billion, according to LSEG. "We're redefining what's possible with [artificial intelligence] by becoming a one-stop shop of AI-agents and AI-enabled human experts to fuel the success of consumers and small and mid-market businesses," Goodarzi said in a release Thursday. Goldman Sachs analysts reiterated their buy rating on the stock and raised their price target to $860 from $750 on Thursday. The analysts said Intuit's execution across its core growth pillars is "reinforcing confidence" in its growth profile over the long term. The company's AI roadmap, which includes the introduction of AI agents, will add additional upside, the analysts added. "In our view, Intuit stands out as a rare asset straddling both consumer and business ecosystems, all while supplemented by AI-prioritization," the Goldman Sachs analysts wrote in a note. Analysts at Deutsche Bank also reiterated their buy rating on the stock and raised their price target to $815 from $750. They said the company's results were "reassuring" after a rocky two years and that they feel more confident about its ability to grow the consumer business. "Longer term, we continue to believe Intuit presents a unique investment opportunity and we see its platform approach powering accelerated innovation with leverage, thus enabling sustained mid-teens or better EPS growth," the analysts wrote in a Friday note.
CNBC
19-05-2025
- Business
- CNBC
I don't expect much growth to come from tax cuts, says Fmr. CEA Chair Jason Furman
Jason Furman, Former CEA Chair, joins 'Closing Bell: Overtime' to discuss the U.S. budget, debt & deficits an Moody's downgrade.
CNBC
19-05-2025
- Business
- CNBC
The Fed is unlikely to cut this year, says Niles Investment's Dan Niles
Dan Niles, Niles Investment Management, joins 'Closing Bell: Overtime' to discuss markets, tech and the economy.
CNBC
19-05-2025
- Business
- CNBC
The profit cycle in the U.S. is peaking, says Richard Bernstein
Ryan Detrick, Carson Group and Richard Bernstein, Richard Bernstein Advisors, join 'Closing Bell: Overtime' to discuss whether investors should be defensive or stay bullish,
CNBC
15-05-2025
- Business
- CNBC
Why shares of Applied Materials are trading lower post earnings
William Kerwin, Morningstar analyst, joins 'Closing Bell: Overtime' to discuss Applied Materials Q2 earnings and more.
