Intuit Sees Revenue Growth, Higher Profit -- Earnings Review
May 22 2018 - 5:03PM
Dow Jones News
By Aisha Al-Muslim
Intuit Inc. (INTU) reported its third-quarter results after the
close of trading on Tuesday. Here's what you need to know.
PROFIT: The business-software company, whose products include
TurboTax, reported net income of $1.2 billion, or $4.59 a share,
compared with $964 million, or $3.70 a share, for the same quarter
a year earlier. Adjusted earnings were $4.82 a share, beating the
$4.68 a share analysts polled by Thomson Reuters were looking
for.
OPERATING INCOME: Operating income rose 12% to $1.62
billion.
REVENUE: Revenue rose 15% to $2.93 billion, ahead of the
consensus forecast of $2.85 billion. The company saw a boost in
quarter by 41% online ecosystem revenue growth and share gains in
TurboTax.
GUIDANCE: For the fourth quarter, the company guided revenues of
$940 million to $960 million, an increase of 12% to 14%, compared
with analysts' estimates of $891.51 million. The company also
guided adjusted earnings per share of 22 cents to 24 cents in the
fourth quarter, compared with analysts' estimates of 29 cents a
share.
For the full fiscal year 2018, the company raised its revenue
outlook to $5.92 billion to $5.94 billion, up from earlier
estimates of $5.64 billion to $5.74 billion. It also raised its
outlook for adjusted per-share earnings to $5.51 to $5.53, up from
$5.30 and $5.40. Analysts have modeled per-share earnings of $5.43
and $5.79 billion in revenue.
STOCK MOVE: The stock has fallen more than 1% to $188.10 in
after-hours trading Tuesday. Shares are up 50% in the last
year.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
May 22, 2018 16:48 ET (20:48 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Intuit (NASDAQ:INTU)
Historical Stock Chart
From Apr 2024 to May 2024
Intuit (NASDAQ:INTU)
Historical Stock Chart
From May 2023 to May 2024