Intuit: Fiscal 4Q Earnings Snapshot

Associated Press
Updated

MOUNTAIN VIEW, Calif. (AP) _ Intuit Inc. (INTU) on Thursday reported a loss of $44 million in its fiscal fourth quarter.

The Mountain View, California-based company said it had a loss of 17 cents per share. Losses, adjusted for one-time gains and costs, were 9 cents per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.

The maker of TurboTax, QuickBooks and other accounting software posted revenue of $994 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $961.4 million.

For the year, the company reported profit of $1.56 billion, or $5.89 per share. Revenue was reported as $6.78 billion.

For the current quarter ending in November, Intuit expects its per-share earnings to range from 23 cents to 25 cents.

The company said it expects revenue in the range of $1.11 billion to $1.13 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.13 billion.

Intuit expects full-year earnings in the range of $7.50 to $7.60 per share, with revenue ranging from $7.44 billion to $7.54 billion.

Intuit shares have risen 40% since the beginning of the year, while the Standard & Poor's 500 index has risen 17%. In the final minutes of trading on Thursday, shares hit $275.71, a climb of 31% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INTU at https://www.zacks.com/ap/INTU