Now Could Be the Time to Buy Intuit Stock
The U.S. Federal Reserve is sticking to its plan to raise interest rates in an attempt to bring down inflation. The bad news is that higher rates mean short-term economic pain, especially for households and small businesses.
In spite of these challenges brought on by the Fed, financial software company Intuit (NASDAQ: INTU) is sticking to its own game plan and expects more upside for its business in the next year. Now looks like a good time to give this fintech leader a close look.
Intuit had a fantastic fiscal 2022 (the 12-month period ended July 2022). Total revenue was $12.7 billion, up 32% year over year -- or up 24% when excluding the acquisition of MailChimp last November. Adjusted earnings per share increased 22%, trailing revenue growth largely due to increased stock-based compensation related to the MailChimp deal.
Source Fool.com
