INTU Intuit Inc

Intuit Inc., the maker of TurboTax and QuickBooks, posted 8% revenue growth in its fiscal fourth quarter, while issuing first-quarter guidance below Wall Street estimates.

The company said its QuickBooks Online subscribers rose 41% to 1.51 million, while its tax business had a strong year and small business online ecosystem revenue increased 25% for the year.

Intuit projects earnings excluding items of 1 cent to 3 cents a share on revenue of $740 million to $760 million for the current quarter. Analysts polled by Thomson Reuters project 13 cents and $773 million.

For the full year, Intuit expects adjusted earnings of $4.30 to $4.40 a share on revenue of $5 billion to $5.1 billion. Analysts' estimates are $4.33 and $5.08 billion.

Intuit shares fell 3.9% to $109.40 in after-hours trading.

The company typically collects the bulk of its earnings during tax season and often posts losses in its off-tax-season quarters.

Intuit said it will pay a 34-cent dividend in October, up from its 30-cent payout in July.

Under a plan announced in 2015, Intuit sold marketing and communications software business Demandforce, collaboration platform QuickBase and personal-finance software brand Quicken earlier this year.

Last month, Intuit said former Google Inc. vice president Lucas Watson would join the company as chief marketing and sales officer.

For the quarter ended July 31, Intuit posted a loss of $40 million, or 16 cents a share, compared with a profit of $14 million, or 5 cents a share, a year earlier. Earnings excluding items were 8 cents a share.

Revenue rose to $754 million from $696 million.

Intuit had projected roughly break-even adjusted earnings per share on revenue between $720 million and $740 million.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

August 23, 2016 20:35 ET (00:35 GMT)

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