04:58 PM EDT, 08/22/2024 (MT Newswires) -- Intuit (INTU) late Thursday reported stronger-than-expected fiscal fourth-quarter results, driven by revenue gains in the financial technology platform's QuickBooks and Credit Karma offerings.

Adjusted per-share earnings jumped to $1.99 during the three months ended July 31 from $1.65 a year earlier, topping the consensus compiled by Capital IQ of $1.85. Revenue increased 17% to $3.18 billion, above the Street's $3.09 billion view.

Intuit's stock was up 2.5% in after-hours trading.

Small business and self-employed group revenue advanced 20% year-over-year to $2.6 billion, buoyed by a 17% rise in QuickBooks online accounting sales that came on the back of customer growth and higher prices, Intuit said. Earlier this month, the company renamed the division to the global business solutions group.

Personal finance portal Credit Karma's revenue climbed 14% to $485 million, driven by auto insurance, personal loans and credit cards. The consumer group's sales declined 12% to $113 million.

The parent of tax-preparation software TurboTax said it expects fiscal 2025 adjusted EPS to grow 13% to 14% annually, reaching $19.16 to $19.36. Revenue is projected to rise 12% to 13%, totaling $18.16 billion to $18.35 billion. The consensus estimates are for normalized EPS of $19.16 and sales of $18.16 billion.

For the first quarter ending Oct. 31, Intuit projects adjusted EPS of $2.33 to $2.38 and revenue of $3.11 billion to $3.15 billion. Analysts polled by Capital IQ are looking for $2.79 and $3.37 billion, respectively.

Intuit in July announced plans to lay off 1,800 employees and close two locations as part of a restructuring plan that it said at the time would cost the company $250 million to $260 million.

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