BUZZ-Intuit gains after forecasting Q3 revenue above estimates

TurboTax maker Intuit's INTU.O shares rise 7.7% to $598.50 premarket

INTU forecasts Q3 revenue between $7.55 bln and $7.60 bln, vs analysts' average estimate of $7.51 bln, according to data compiled by LSEG

"Intuit has joined just a handful of companies in actually demonstrating the profitability and business use of artificial intelligence, and the benefits the tech can bring," says Ben Barringer, global technology analyst at Quilter Cheviot

Jefferies says early season marketing seems to be paying off with both assisted tax filers and do-it-yourself filers, driven by streamlined product, competitive pricing and faster refunds

Morningstar says it is encouraged by INTU's capability to continuously raise QuickBooks' average revenue per customer as co adds more services that help small businesses reduce their overheads and increase their switching costs

Up to last close, INTU shares have fallen ~16% in the past 12 months