INTU Intuit Inc

By Allison Prang

Intuit Inc. is guiding for its operating income for this fiscal year to increase by at least about 11% and for earnings to rise, the company said Thursday.

Intuit said it expects operating income to be up between about 11% to 14% from a year ago. It is expecting between $2.425 billion and $2.475 billion in operating income. On an adjusted basis, it expects between $2.96 billion and $3.01 billion in operating income.

The company said it expects earnings to be between $7 and $7.15 a share. It expects year-over-year growth of between about 1% and 3%, it said. The company is guiding for adjusted earnings to between $8.40 a share and $8.55 a share. According to FactSet, analysts are expecting $8.46 a share.

Intuit expects fiscal-year revenue to increase between about 8% to 10% year over year and for it to be between $8.265 billion and $8.415 billion, it said. Analysts expect $8.25 billion.

For the second quarter, Intuit said it expects revenue to rise by between about 8% to 9%. It expects earnings to be between 89 cents a share and 92 cents a share and for adjusted earnings to be between $1.31 a share and $1.34 a share. Analysts are expecting $1.23 a share for adjusted earnings.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

November 19, 2020 16:34 ET (21:34 GMT)

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