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Intuit Lifts FY Outlook, Shares Gain 9%

Shares of Intuit Inc. (INTU) jumped over 9% in extended trading session on Thursday after the accounting software maker lifted its outlook for the full year 2022.

Looking forward, the company now expects adjusted earnings of $11.48 to $11.64 per share and revenues of $12.165 billion to $12.300 billion.

Previously, the company expected adjusted earnings of $11.05 to $11.25 per share on revenue between $11.050 billion and $11.200 billion.

Analysts polled by Thomson Reuters currently estimate earnings of $11.23 per share on revenues of $11.16 billion.

For the second quarter, the company expected adjusted earnings of $1.84 to $1.88 per share and revenue growth of about 73 to 74 percent. Analysts currently estimate earnings of $1.47 per share.

CEO Sasan Goodarzi said, "We continue to see strong momentum and proof that our Big Bets are further positioning us for durable growth in the future, and we're delighted that Mailchimp has joined Intuit."

INTU closed Thursday's trading at $628.94, down $6.12 or 0.96%, on the Nasdaq. The stock, however, gained $58.11 or 9.24% in the after-hours trading.

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