What To Expect From Intuit Q2 Earnings?

Core Viewpoint - Wall Street analysts have rerated Intuit Inc ahead of its quarterly earnings report, with JP Morgan analyst Mark R Murphy maintaining a Neutral rating, citing improved valuation risk/reward due to the stock's pullback [1] Group 1: Earnings and Valuation - The stock has traded at a lower level than it did 3.5 years ago, which has improved the valuation risk/reward perspective [1] - TurboTax is a key focus for investors as the tax season approaches, with the company expressing confidence about the upcoming season [3] Group 2: Tax Filing Deadline Impact - The IRS has deferred the tax filing deadline from April to October for those affected by California wildfires, which may create short-term noise and defer some revenue from Q3 [2] Group 3: Competitive Concerns - There are emergent concerns regarding DOGE-related initiatives that could negatively impact TurboTax, although these concerns are currently conceptual [3] Group 4: Historical Guidance and Market Sentiment - Historically, Intuit has not raised fiscal guidance after the second quarter due to tax season volatility [4] - Investor sentiment on the macroeconomic environment has trended positively despite elevated inflation and interest rates [5] Group 5: Visitor Traffic Data - TurboTax's unique visitor traffic showed 164.4% sequential growth in Q2 of fiscal 2025 compared to 165.2% in Q2 of fiscal 2024 [5] - QuickBooks experienced a significant improvement in unique visitor traffic with 14.6% sequential growth in Q2 of fiscal 2025 versus 6.0% in Q2 of fiscal 2024 [6] - Credit Karma's unique visitor traffic declined with -5.9% sequential growth in Q2 of fiscal 2025 compared to 7.3% in Q4 of fiscal 2024 [7]