By Allison Prang

 

Intuit Inc. said it expects its deal to buy Credit Karma to modestly dilute adjusted earnings per share this fiscal year, but still thinks it will be accretive over time.

Intuit said it expects the deal to be neutral to modestly dilutive to adjusted earnings in the first full fiscal year after the deal closes next fiscal year.

The company said Credit Karma hit "a low point" over the summer but its revenue run-rate last month was almost back to what it was before the pandemic.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

November 19, 2020 16:47 ET (21:47 GMT)

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