Intuit posted mixed quarterly earnings, reporting an adjusted EPS of $.68 and net revenue of $1.58B, compared to the estimated $.67 EPS and revenue of $1.57B. Yahoo Finance's Emily McCormick joined Yahoo Finance Live to break down the metrics.
SEANA SMITH: We have earnings results from Intuit, I believe. Emily McCormick is standing by with those results for us, Emily.
EMILY MCCORMICK: Seana, we're taking a look at some mixed results here from Intuit. They did beat just slightly for their fiscal second quarter results. Guidance for the third quarter was a big beat. But they did maintain their guidance for the full year when some analysts had been expecting them to actually improve that outlook on the top and bottom line.
Now, going through these numbers, we had fiscal second quarter adjusted earnings per share coming in at $0.68. That was down year over year but still a beat compared to estimates for $0.67 a share. Now, net revenue of $1.58 billion also down about 7% year over year, but, again, just a tick above consensus estimates for $1.57 billion.
Now, taking a look at their third quarter forecast, with the forecast for the current quarter, the company sees revenue of $4.61 billion to $4.66 billion. And that's to be compared to consensus estimates for $4.38 billion. And their outlook on the third-quarter adjusted earnings per share also a beat, up between $6.75 to $6.85. Now, also want to finally take a look here at their full year forecast.
The midpoint of their adjusted earnings per share outlook of between $8.20 and $8.40 did miss estimates for $8.38. We are seeing shares of Intuit under a bit pressure here in late trading as a result of this. But overall, again, a bit of a mixed report here from Intuit, shadow-- Seana and Adam.