Intuit (INTU) Stock Drops 4% Despite Strong Q4 Earnings Report

Intuit (NASDAQ: INTU) stock fell 4% through 10:50 a.m. ET on Wednesday, following the release of its Q4 earnings. Analysts projected earnings of $3.59 per share on sales under $4.3 billion, but Intuit reported $4.03 per share on sales exceeding $4.3 billion. The downside came from weaker-than-expected guidance, projecting Q1 sales growth to slow to 11% and GAAP earnings between $1.71 and $1.75 per share. Despite a trailing price-to-earnings ratio of less than 22x and forecasted earnings growth of 22% to 24%, the current guidance led to investor concerns which could impact market sentiment.