Intuit Inc. (NASDAQ: INTU) Surges 8% on Strong Earnings Beat
Intuit Inc. (NASDAQ: INTU), a leading provider of financial management, compliance, and marketing solutions, saw its stock surge 8% in premarket trading following an impressive earnings beat. The company’s strong financial performance, coupled with increasing demand for its AI-driven financial services software, has positioned 
INTU for a potential breakout.
AI Expansion and Tax Season Demand
Intuit, the maker of TurboTax, QuickBooks, and Credit Karma, has been capitalizing on the growing demand for AI-powered financial solutions. The ongoing tax season in the U.S. has further boosted demand for its software, with the bulk of tax filings expected in Q3.
In its latest earnings report, Intuit exceeded Wall Street expectations, reporting second-quarter revenue of $3.96 billion, surpassing the estimated $3.83 billion. Adjusted earnings per share (EPS) came in at $3.32, significantly outperforming estimates of $2.58. However, while Intuit’s Q3 revenue forecast of $7.55 billion–$7.60 billion surpassed the analyst consensus of $7.51 billion, its adjusted profit per share projection of $10.89–$10.95 fell short of the expected $11.48.
Despite workforce reductions in 2024, Intuit rapidly filled vacant positions, underscoring its operational efficiency and ability to scale talent acquisition. The company's AI-powered assistant, Intuit Assist, launched in November 2024 for QuickBooks, is further streamlining tax and financial management tasks, enhancing productivity for small businesses and individuals alike.
Technical Outlook
As of the time of writing,INTU has surged 8% in premarket trading, forming a bullish engulfing pattern. The stock had previously closed down 2.2% in the last session, trading below key moving averages (MA). However, this premarket jump places INTU on the cusp of a breakout.
Key technical indicators suggest room for further upside:
- Relative Strength Index (RSI): Currently at 54, indicating ample room for continued bullish momentum before entering overbought territory.
- Fibonacci Retracement Support: The 38.2% Fibonacci retracement level is acting as a key support zone, potentially providing a cushion against pullbacks.
- Breakout Potential: A decisive move above the 1-month high could push the stock toward the 38.2% Fibonacci extension zone, paving the way for new resistance levels and a sustained bullish run.
INTU for a potential breakout.AI Expansion and Tax Season Demand
Intuit, the maker of TurboTax, QuickBooks, and Credit Karma, has been capitalizing on the growing demand for AI-powered financial solutions. The ongoing tax season in the U.S. has further boosted demand for its software, with the bulk of tax filings expected in Q3.
In its latest earnings report, Intuit exceeded Wall Street expectations, reporting second-quarter revenue of $3.96 billion, surpassing the estimated $3.83 billion. Adjusted earnings per share (EPS) came in at $3.32, significantly outperforming estimates of $2.58. However, while Intuit’s Q3 revenue forecast of $7.55 billion–$7.60 billion surpassed the analyst consensus of $7.51 billion, its adjusted profit per share projection of $10.89–$10.95 fell short of the expected $11.48.
Despite workforce reductions in 2024, Intuit rapidly filled vacant positions, underscoring its operational efficiency and ability to scale talent acquisition. The company's AI-powered assistant, Intuit Assist, launched in November 2024 for QuickBooks, is further streamlining tax and financial management tasks, enhancing productivity for small businesses and individuals alike.
Technical Outlook
As of the time of writing,
INTU has surged 8% in premarket trading, forming a bullish engulfing pattern. The stock had previously closed down 2.2% in the last session, trading below key moving averages (MA). However, this premarket jump places INTU on the cusp of a breakout.Key technical indicators suggest room for further upside:
- Relative Strength Index (RSI): Currently at 54, indicating ample room for continued bullish momentum before entering overbought territory.
- Fibonacci Retracement Support: The 38.2% Fibonacci retracement level is acting as a key support zone, potentially providing a cushion against pullbacks.
- Breakout Potential: A decisive move above the 1-month high could push the stock toward the 38.2% Fibonacci extension zone, paving the way for new resistance levels and a sustained bullish run.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.