This global financial tech platform, and dividend-growth machine, announced quarterly results after the close on Tues, whereby it beat rev and earnings est., but provided mixed fwd guide w/ rev growing at 10-12% (impressive!) vs street est of 12-14%, and also reaffirmed FY’23 EPS guide. It announced its 45th consec qrtrly dividend (annual div has grown 11 years in a row). W/ impressive gross (>82%) and net (>16%) margins, and trading at ~28x fwd non-GAAP earnings, shares remain an attractive buy as its strong moat (high switching costs + network effects) remain firmly intact. We are long the shares in our Income Equity Portfolio w/ no intention of selling anytime soon.
If you don’t know, Intuit is the financial platform behind TurboTax, QuickBooks, MailChimp, CreditKarma and Mint.