Our proven model conclusively predicts an earnings beat for Intuit this time. The Zacks Consensus Estimate for Credit Karma’s second-quarter revenues is pegged at $372 million, indicating a year-over-year decline of 16.2%. The business unit contributed $425 million to INTU’s first-quarter fiscal 2023 total revenues. This is expected to have led to lower Credit Karma revenues in the quarter to be reported. However, due to the macroeconomic volatility, Intuit business partners have been pulling back from extending their credit, risking credit performance deterioration in the near term.

The Zacks Consensus Estimate for the Consumer tax business’ revenues is pegged at $453 million, higher than the year-ago quarter's reported figure of $411 million. In the fiscal second quarter, customer addition and extension filers are likely to boost revenues from the company’s Consumer tax business. The solid momentum of INTU’s leading product, QuickBooks Capital and improving customer retention rates are anticipated to have acted as tailwinds in the fiscal second quarter. The Online Ecosystem is likely to have boosted overall sales in the second quarter. The consensus mark for Quickbooks Online’s revenues stands at $687 million, suggesting a 25.6% year-over-year improvement. The Zacks Consensus Estimate for total Online Ecosystem’s revenues is pegged at $1.36 billion for the quarter under review, indicating a 20.9% rise from the prior year's reported figure. Intuit’s fiscal second-quarter revenues are likely to have witnessed solid growth in the Online Ecosystem, driven by an expanding subscriber base for Quickbooks Online and ARPC.

In the last quarter, the business unit grew 38%, excluding the contribution of $264 million from Mailchimp.

The Zacks Consensus Estimate for Small Business’ quarterly revenues is pegged at $1.83 billion. The gradual recovery in Small Business and Self-Employed is expeted to have contributed to the top line in the quarter under review.

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