Intuit's quarterly forecast misses estimates, causing revenue delays and resulting in a drop in share price.

• Intuit's fiscal first-quarter results exceeded expectations.
• The finance software company confirmed its full-year outlook but stated that promotional adjustments in the current quarter may impact revenue sequencing.

On Thursday, shares of the finance software maker fell 6% in extended trading after the company issued a revenue forecast for the current quarter that was below analysts' estimates due to some sales being delayed.

Here's how the company performed in comparison with LSEG consensus:

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

In the quarter that ended on Oct. 31, revenue increased by 10% year over year, while net income decreased to $197 million, or 70 cents per share, from $241 million, or 85 cents per share, the previous year.

Although the company's first-quarter results exceeded expectations, its second-quarter guidance was lower. Intuit expects a decline in revenue from the consumer segment due to promotional changes, which will affect revenue timing but not the full 2025 fiscal year.

Intuit predicted second-quarter earnings of $2.55 to $2.61 per share and revenue of $3.81 billion to $3.85 billion, while LSEG forecasted $3.20 per share and $3.87 billion in revenue.

Intuit anticipates revenue growth of 12% to 13% for the full year, with adjusted earnings per share ranging from $19.16 to $19.36 on revenue of $18.16 billion to $18.35 billion. This is in contrast to analysts' expectations of $19.33 in adjusted earnings per share and $18.26 billion in revenue.

In the first quarter, the Global Business Solutions Group generated $2.5 billion in revenue, which was a 9% increase and in line with expectations, as reported by StreetAccount. This group, previously called the Small Business and Self-Employed segment, encompasses Mailchimp, QuickBooks, small business financing, and merchant payment processing.

CreditKarma's revenue exceeded StreetAccount's consensus by $94 million.

In 2024, Intuit shares have risen approximately 9% by Thursday's close, while the S&P 500 has experienced a gain of almost 25% in the same time frame.

Analysts will receive a conference call from executives to discuss the results starting at 4:30 p.m. ET.

The stock prices of H&R Block and Intuit decreased following a report that the Trump administration is considering creating a free tax-filing app.