Intuit (NASDAQ:INTU) is expected to report Q3 earnings after the market close on Thursday, May 17, with a conference call scheduled for 4:30 pm ET.
The consensus estimate is $2.48 for EPS and $1.96B for revenue, according to First Call. The company is looking to beat analyst estimates for the third quarter in a row. Guidance provided by management for Q3 is EPS of $2.47-$2.51 on revenue of $1.95B-$1.99B. Management also reaffirmed its FY12 guidance on April 20 for EPS of $2.90-$2.97 and revenue of $4.185B-$4.285B.
Citigroup said that Q1 results and guidance a foregone conclusion. Its Q1 estimate of $2.47 on revenue of $1.96B is in-line with the Street and the firm expects a narrowing of guidance as tax outcome is now certain, but none of this should be a surprise. Citigroup believes that the tax uncertainty needs to be cleared up and double-digit forward growth endorsed for shares to work near term. The firm expects Intuit to attempt to do this on the earnings call but it may take until the analyst meeting in September. Despite tax concerns, emerging concerns in enterprise and Europe may make Intuit an attractive defensive long trade as the company is 95%+ U.S.-exposed.