(AOF) – Intuit presented better than expected results and disappointing prospects. In the second quarter, ended at the end of January, the tax consulting software company recorded a net profit of $353 million, or 1.25 cents per share, compared with a profit of $168 million, or 60 cents per share. one year earlier. Excluding exceptional items, it generated earnings per share of $2.63, compared to the consensus of $2.30. Intuit’s turnover increased 11% to $3.40 billion, in line with expectations.
In the third quarter, Intuit expects adjusted earnings per share of $7.77 to $7.84 and revenue to grow 10% to 11%. Wall Street expects earnings per share of $9.69.
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Beautiful dynamic
According to the latest Truffle 100 ranking, the sector’s total turnover in France jumped 15% last year to cross the 25 billion euro mark. The sector has benefited from an unprecedented growth rate and confirms its recovery after the health crisis. The average annual growth over fifteen years is 12 times higher than that of GDP! Dassault Systèmes retains first place with more than 5.6 billion euros in revenue last year. Cegid, specialist in software for accountants, and the fintech Murex are placed in second and third position with respectively 791 and 711 million euros in turnover. Polarization is one of the characteristics of the sector: the gap in turnover between the 50th and the 100th publisher has increased further in 2022 to reach almost 28 million euros. Performance was improved as the profitability rate (as a percentage of turnover) increased from 9.1% to 10.4%. The outlook is good because artificial intelligence, seen as revolutionary, is expected to drive the market in 2023, as is cybersecurity.