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Intuit down in after-hours trading following mixed earnings report

Intuit posted mixed quarterly earnings, reporting an adjusted EPS of $.68 and net revenue of $1.58B, compared to the estimated $.67 EPS and revenue of $1.57B. Yahoo Finance's Emily McCormick joined Yahoo Finance Live to break down the metrics.

Video Transcript

SEANA SMITH: We have earnings results from Intuit, I believe. Emily McCormick is standing by with those results for us, Emily.

EMILY MCCORMICK: Seana, we're taking a look at some mixed results here from Intuit. They did beat just slightly for their fiscal second quarter results. Guidance for the third quarter was a big beat. But they did maintain their guidance for the full year when some analysts had been expecting them to actually improve that outlook on the top and bottom line.

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Now, going through these numbers, we had fiscal second quarter adjusted earnings per share coming in at $0.68. That was down year over year but still a beat compared to estimates for $0.67 a share. Now, net revenue of $1.58 billion also down about 7% year over year, but, again, just a tick above consensus estimates for $1.57 billion.

Now, taking a look at their third quarter forecast, with the forecast for the current quarter, the company sees revenue of $4.61 billion to $4.66 billion. And that's to be compared to consensus estimates for $4.38 billion. And their outlook on the third-quarter adjusted earnings per share also a beat, up between $6.75 to $6.85. Now, also want to finally take a look here at their full year forecast.

The midpoint of their adjusted earnings per share outlook of between $8.20 and $8.40 did miss estimates for $8.38. We are seeing shares of Intuit under a bit pressure here in late trading as a result of this. But overall, again, a bit of a mixed report here from Intuit, shadow-- Seana and Adam.