Intuit Shares fell 6 percent in extended trade on Thursday after the finance software maker issued a revenue forecast for the current quarter that beat analysts’ estimates due to some sales delays.

How did the company perform against the LSEG consensus?

• Earnings per share: $2.50 adjusted vs. 2.35 expected
• Income: $3.28 billion vs. 3.14 billion

According to one, revenue rose 10 percent year-over-year in the quarter ended Oct. 31 statement. Net income fell to $197 million, or 70 cents a share, from $241 million, or 85 cents a share, a year earlier.

While the fiscal first quarter results topped estimates, guidance for the second quarter was subdued. Intuit said it expects a single-digit decline in consumer segment revenue due to promotional changes for TurboTax desktop software in a retail environment. While this will affect the timing of revenues, it will not have an impact on the entire 2025 fiscal year.

Intuit called for second-quarter earnings of $2.55 to $2.61 per share, on revenue of $3.81 billion to $3.85 billion. The consensus from LSEG was $3.20 per share and $3.87 billion in revenue.

For the full year, Intuit expects adjusted earnings of $19.16 to $19.36 per share on revenue of $18.16 billion to $18.35 billion. This means an increase in revenue of between 12% and 13%. Analysts polled by LSEG were looking for $19.33 in adjusted earnings per share and $18.26 billion in revenue.

Global Business Solutions Group revenues hit $2.5 billion in the first quarter. According to StreetAccount, the figure was up to 9% and in line with estimates. Formerly known as the Small Business and Self-Employed segment, the group includes Mailchimp, QuickBooks, small business financing and merchant payment processing.

“We’re seeing good growth in serving mid-market customers at MailChimp, but seeing more growth from smaller customers,” Intuit finance chief Sandeep Ojla said on a conference call with analysts. “We’re solving this by enhancing the product and improving first-time use and customer retention through feature discovery and adoption.”

Better results are a few quarters away, Ojala said.

CreditKarma’s revenue came in at $524 million, beating StreetAccount’s consensus of $430 million.

As of Thursday’s close, Intuit shares are up about 9% so far in 2024, while the S&P 500 is up about 25% over the same period.

Shares of Intuit fell 5% on Tuesday after the Washington Post said US President-elect Donald Trump’s proposed Department for Government Efficiency had discussed developing a mobile app for federal income tax filing. But a mobile app for filing returns from Intuit is “already available to all Americans,” CEO Susan Godarzi told CNBC’s Jon Forte.

Goodarzi said on CNBC that he is personally in talks with leaders of the incoming presidential administration.

On the earnings call, Goodarzi sounded optimistic about the economy.

“Our belief, which is not included in our guidance, is that we will see a better environment as we look forward into 2025, especially with just some of the things that I mentioned earlier, just interest rates, jobs. , about the regulatory environment”. he said. “These things are a real burden on business. And we believe there is a better future ahead.”

Look: Shares of H&R block, Intuit fell after reports that the Trump administration is considering a free tax filing app.