Intuit's Quarterly Results Beat Projections but Forecast Disappoints
November 20 2017 - 5:56PM
Dow Jones News
By Maria Armental
Intuit's (INTU) first-quarter results beat internal and Wall
Street projections with a 14% revenue increase, driven by growth in
subscribers for its QuickBooks Online.
But shares, which set a 52-week high on Monday, fell 1.6% to
$155.28 in extended trading as the company affirmed its forecast
for the year and as its second-quarter guidance fell largely in
line with analysts' expectations.
For the quarter that ends Jan. 31, the maker of TurboTax and
QuickBooks expects to make 8 cents to 11 cents a share, or 31 cents
to 34 cents on an adjusted basis, on $1.16 billion to $1.18 billion
in revenue. Analysts surveyed by Thomson Reuters had projected 10
cents a share, or 32 cents as adjusted, on $1.12 billion in
revenue. (maria.armental@wsj.com; @mjarmental)
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
November 20, 2017 17:41 ET (22:41 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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