Why did INTU's Q4 2024 EPS exceed forecasts significantly?

Intuit's (INTU) Q4 2024 EPS exceeded forecasts significantly due to several key factors:

1. **Strong Revenue Growth**: Intuit delivered robust revenue growth, with its Global Business Solutions Group and Online Ecosystem segments showing particular strength. The company's transformation into an AI-driven expert platform is yielding results, especially visible in its Global Business Solutions Group. Its Online Ecosystem revenue growth of 20% marked a two-percentage-point acceleration from the previous quarter, coupled with Credit Karma's 29% revenue surge.
2. **Successful Digital Initiatives**: Intuit's digital initiatives are successfully driving growth. Core Business Performance QuickBooks Online Accounting maintained strong momentum with 21% revenue growth, driven by customer expansion, higher effective pricing, and a favorable product mix-shift. The Online Services segment grew 19%, bolstered by money management, payroll, and Mailchimp offerings. A 17% increase in payment volume underscores healthy transaction activity.
3. **Market Expansion**: Intuit's mid-market strategy is gaining significant traction, with QuickBooks Online Advanced and Intuit Enterprise Suite posting approximately 42% growth in Online Ecosystem revenues. The company has successfully built a base of 800,000 mid-market customers, targeting an addressable market of $89 billion. International expansion efforts are showing promise, with Online Ecosystem revenues growing 10% on a constant currency basis.

In summary, Intuit's Q4 2024 EPS exceeded forecasts significantly due to strong revenue growth, successful digital initiatives, and effective market expansion.

|code|Ticker|Name|Date|EPS Surprise|Diluted EPS|market_code|
|---|---|---|---|---|---|---|
|INTU|INTU.O|Intuit|2024 Q1|0.49|0.85|185|
|INTU|INTU.O|Intuit|2024 Q2|0.33|1.25|185|
|INTU|INTU.O|Intuit|2024 Q3|0.5|8.42|185|
|INTU|INTU.O|Intuit|2024 Q4|0.14||185|