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Intuit stock rises after earnings, outlook beat

Wallace Witkowski

Intuit Inc. shares rose in the extended session Thursday after the accounting software company's quarterly results and outlook topped Wall Street estimates. Intuit shares rose 2% after hours, following a 2.5% drop to close at $241.31 in the regular session. The company reported fiscal third-quarter net income of $1.38 billion, or $5.22 a share, compared with $1.19 billion, or $4.53 a share, in the year-ago period. Adjusted earnings were $5.55 a share. Revenue rose to $3.27 billion from $2.91 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $5.40 a share on revenue of $3.23 billion. Intuit expects an adjusted loss of 16 cents to 14 cents for the fourth quarter, and adjusted earnings of $6.67 to $6.69 a share on revenue of $6.74 billion to $6.76 billion for the year. Analysts had forecast a loss of 16 cents a share for the fourth quarter, and earnings of $6.54 a share on revenue of $6.66 billion for the year.