Intuit's Fiscal Q3 Performance Driven by Tax Segment Strength, Morgan Stanley Says
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Intuit's fiscal Q3 results exceeded expectations, driven by strong growth in TurboTax Live and Consumer Tax revenue, according to Morgan Stanley. Non-GAAP earnings were $11.65 per share, surpassing the consensus of $10.93, with revenue at $7.75 billion. TurboTax Live revenue rose 47% year-over-year, while Consumer Tax revenue grew 11%. Intuit raised its fiscal 2025 revenue and EPS guidance, prompting Morgan Stanley to maintain an overweight rating and increase the price target to $785. Intuit shares rose nearly 9% in recent trading.
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