04:46 PM EDT, 05/23/2024 (MT Newswires) -- Intuit (INTU) late Thursday reported stronger-than-expected fiscal third-quarter results, while the financial technology platform raised its guidance for the full year.

Adjusted per-share earnings jumped to $9.88 during the three months ended April 30 from $8.92 a year earlier, topping the consensus compiled by Capital IQ of $9.38. Revenue increased 12% to $6.74 billion, above the Street's $6.64 billion view.

"The era of (artificial intelligence) is one of the most significant technology shifts in our lifetime and our strategy to be the global AI-driven expert platform is delivering significant benefits to our customers and strong results across the company," Chief Executive Sasan Goodarzi said in a statement.

Small business and self-employed group revenue advanced 18% year over year to $2.4 billion, buoyed by a 19% rise in QuickBooks online accounting sales that came on the back of customer growth and higher prices, Intuit said.

The consumer group's sales increased 9% to $3.7 billion. Personal finance portal Credit Karma's revenue rose 8%, driven by growth in money, credit cards, auto insurance and personal loans.

The parent of tax-preparation software TurboTax said it now expects full-year adjusted EPS of $16.79 to $16.84, up from the previous projection of $16.17 to $16.47. Intuit raised its revenue forecast to between $16.16 billion and $16.2 billion from the prior outlook for $15.89 billion to $16.11 billion. The consensus estimates are $16.42 and $16.05 billion, respectively.

For the fourth quarter, Intuit projects adjusted EPS of $1.80 to $1.85 on revenue between $3.06 billion to $3.10 billion. Analysts polled by Capital IQ are looking for $1.92 and $3.05 billion, respectively.

Intuit's stock was down 5.9% in after-hours trading.

Price: 618.90, Change: -43.36, Percent Change: -6.55