Intuit (INTU) delivered a "solid" fiscal Q3 from a "strong" tax season, with lower-quality Credit Karma revenue mainly driving the outperformance, RBC Capital Markets said in a note Friday.
The firm noted that Credit Karma revenue was $115 million above consensus, followed by the Consumer segment, which was ahead of consensus by $53 million.
RBC also noted that TurboTax Live customers increased 24% and revenue rose 47% due to "continued success of assist tax strategy."
The firm added that the company saw a robust monetization across simple and complex filers, boosting average revenue per return by 13%.
RBC raised its price target on Intuit to $850 from $760 and maintained its outperform rating.
The company's shares rose over 8% in recent trading.
Price: 721.28, Change: +55.21, Percent Change: +8.29
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。