Intuit Beats Revenue, Earnings Targets
26 February 2016 - 9:40AM
Dow Jones News
Intuit Inc., the maker of TurboTax software, on Thursday
reported better-than-expected results for its second quarter,
driven in part by more online subscribers of its QuickBooks
product.
The company said during the three-month period, QuickBooks
online subscribers jumped 49%.
Shares of the company, up 1.2% over the past year, were up 3.43%
to $103.50 after hours.
For the current quarter that ends April 30, the company expects
revenue of $2.21 billion to $2.26 billion, or growth of 4% to 6%,
with adjusted earnings on a per-share basis in the range of $3.15
to $3.20.
Over all for the latest quarter, Intuit reported a profit of $24
million, or 9 cents a share, compared with a year-ago loss of $66
million, or a loss of 23 cents a share.
Excluding certain items, profit was 25 cents a share, up from a
loss of 6 cents a share a year earlier.
The company typically posts losses in its off-tax-season
quarters.
Also in the latest quarter, revenue climbed 23% to $923
million.
The company had expected revenue between $880 million to $900
million with adjusted earnings between 17 cents a share and 20
cents. Analysts surveyed on FactSet had projected adjusted profit
of 19 cents a share on $893 million in revenue.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
February 25, 2016 17:25 ET (22:25 GMT)
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