Earnings to Watch: Intuit (INTU) will report first-quarter earnings tomorrow

Tax and accounting software provider Intuit ( NASDAQ:INTU ) will report earnings after the bell tomorrow. Here’s what to look for.

Intuit met analysts’ revenue expectations last quarter, reporting revenue of $3.39 billion, up 11.3% year over year. It was a slower quarter for the company as full-year revenue guidance did not meet analyst expectations or analyst estimates for earnings.

Does buying or selling Intuit affect earnings? Read our full analysis here, it’s free.

Analysts expect Intuit’s revenue to grow 10.4% year-over-year to $6.64 billion this quarter, an improvement over the 6.9% growth reported in the same quarter last year. Adjusted earnings per share are expected to be $9.38.

Most analysts covering the company have reaffirmed their estimates over the last 30 days, suggesting they expect the company to remain on track towards earnings. Intuit has missed Wall Street revenue estimates twice in the last two years.

Looking at Intuit’s competitors in the financial and HR software segment, some of them have already released first-quarter results, which gives us a hint of what to expect. BlackLine reported year-over-year revenue growth of 13.3%, beating analyst expectations by 1.5%, and Dayforce reported revenue growth of 16.4%, beating analyst expectations by 1.3%. Following the results, BlackLine’s price fell 1.6%, while Dayforce also fell 6%.

Read our full analysis of BlackLine’s results here and Dayforce’s results here.

Positive sentiment among investors in the financial and HR software segment, with share prices up an average of 3.2% over the past month. Intuit is up 5.8% over the same period and is heading toward earnings, with an average analyst price target of $696.6 (versus the current share price of $667.66).

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