Intuit's 2 Big Bets Are Paying Off
It seemed like few tech stocks could catch a break during first-quarter 2022 earnings season. With the market overall in retreat due to inflation worries, the U.S. Federal Reserve's interest rate hikes, and growing concern over an economic slowdown, shares of many companies were punished regardless of whether they beat or missed financial performance expectations during the first few months of the year.
Financial software titan Intuit (NASDAQ: INTU) was an exception. Shares of the company best known for TurboTax and QuickBooks are up some 14% in the weeks following its earnings update in late May. Two big bets the company recently made are starting to pay off, and there could be a lot more upside ahead for Intuit.
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Source Fool.com
