Stock Monitor: Inpixon Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 04, 2018 / Active-Investors.com has just released a free earnings report on Intuit Inc. (NASDAQ: INTU). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=INTU. The Company reported its financial results on February 22, 2018, for the second quarter of the fiscal year 2018 (Q2 FY18). The Company's revenues and non-GAAP diluted earnings per share (EPS) grew 15% and 35%, respectively; outperforming market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Inpixon (NASDAQ: INPX), which also belongs to the Technology sector as the Company Intuit. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Intuit most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=INTU
Earnings Highlights and Summary
Intuit reported revenues of $1.17 billion in Q2 FY18, which came in above the $1.02 billion recorded in Q2 FY17. The Company's revenues for the reported quarter topped market consensus estimates of $1.16 billion.
The maker of TurboTax, QuickBooks, and other accounting software recorded a net loss of $21 million, or $0.08 loss per diluted share, in Q2 FY18 compared to a net income of $13 million, or $0.05 per diluted share, in the prior year's same quarter. The Company's non-GAAP net income came in at $91 million, or $0.35 per diluted share in Q2 FY18, up from $67 million, or $0.26 per diluted share, in Q2 FY17. Moreover, Wall Street was expecting the Company to report a non-GAAP net income of $0.34 per diluted share.
Operating Metrics
The Mountain View, California-based Company spent $207 million on cost of service and other revenues in Q2 FY18, up from $166 million in the last year's comparable quarter. The Company's selling and marketing expenses increased to $469 million in Q2 FY18 from $405 million in Q2 FY17. The Company's research and development (R&D) cost also increased to $286 million during the reported quarter from $243 million in Q2 FY17. Moreover, the Company's general and administrative (G&A) expenses were $143 million in Q2 FY18 versus $140 million in Q2 FY17.
During Q2 FY18, the Company posted a GAAP operating income of $20 million compared to $22 million in past year's corresponding period. Additionally, the Company's non-GAAP operating income rose to $120 million in Q2 FY18 from $106 million in Q2 FY17.
Segment Results
The Company's Small Business & Self-Employed segment's product revenues grew 19% to $736 million in Q2 FY18. Moreover, the segment's product revenues were up by 10% to $221 million y-o-y in Q2 FY18. The segment's service and other revenues also rose during the reported quarter to $515 million from $417 million in Q2 FY17. The segment's operating income increased to $281 million, or 38% of segment revenues, in Q2 FY18 from $241 million, or 39% of segment revenues, in Q2 FY17. Furthermore, QuickBooks online subscriber's base surged 51% to over 2.8 million subscribers.
Intuit's Consumer segment's product revenues were up to $13 million in Q2 FY18 from $12 million in Q2 FY17. The segment's service and other revenues grew 12% to $321 million y-o-y in Q2 FY18. Moreover, the segment's operating income also increased to $69 million, or 21% of segment revenues, in Q2 FY18 from $55 million, or 18% of segment revenues, in Q2 FY17.
During Q2 FY18, Intuit's Strategic Partner's product revenues fell to $82 million from $86 million in Q2 FY17. The segment's service and other revenues came in flat at $13 million in Q2 FY18. Additionally, the segment's operating income also fell marginally to $49 million in Q2 FY18 from $50 million in Q2 FY17.
Cash Matters and Balance Sheet
In the past six months, the Company's net cash provided by operating activities totaled $174 million compared to $87 million in the year ago corresponding period. As on January 31, 2018, Intuit had a cash and cash equivalents balance of $478 million compared to $529 million as on July 31, 2017. Furthermore, the Company had a long term debt balance amounting to $413 million as on January 31, 2018, versus $438 million as on July 31, 2017.
Dividend
In its earnings press release, Intuit's Board of Directors announced a quarterly cash dividend of $0.39 per share of outstanding common stock, payable on April 18, 2018, to stockholders of record at the close of business as on April 10, 2018.
During Q2 FY18, the Company bought back shares worth $83 million, with $1.3 billion remaining on the authorization.
Outlook
In its guidance for the full year FY18, Intuit expects a revenue growth of 9% to 11%, and revenues to be in the range of $5.64 billion to $5.74 billion. The Company's non-GAAP operating income is projected to be between $1.64 billion to $1.66 billion for FY18. Furthermore, non-GAAP diluted EPS is anticipated to be in the band of $4.57 to $4.62 for FY18.
For Q3 FY18, the Company projects revenues to be between $2.79 billion and $2.84 billion, with a y-o-y growth of 10% to 12%. The Company's non-GAAP operating income is expected to be in the range of $1.64 billion to $1.66 billion for Q3 FY18, whereas its non-GAAP diluted EPS is forecasted to be in the band of $4.57 to $4.62.
Stock Performance Snapshot
April 03, 2018 - At Tuesday's closing bell, Intuit's stock slightly advanced 0.35%, ending the trading session at $170.47.
Volume traded for the day: 1.40 million shares.
Stock performance in the last month - up 0.97%; previous three-month period - up 8.04%; past twelve-month period - up 46.97%; and year-to-date - up 8.04%
After yesterday's close, Intuit's market cap was at $42.97 billion.
Price to Earnings (P/E) ratio was at 44.81.
The stock has a dividend yield of 0.92%.
The stock is part of the Technology sector, categorized under the Application Software industry. This sector was up 0.9% at the end of the session.
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