Intuit (NASDAQ:INTC) reported its quarterly earnings results late today, bringing in a profit and sales that came in ahead of what analysts called for in the Wall Street consensus estimate.
The Mountain View, Calif.-based business and financial software business said that for its third quarter of the current fiscal year, it posted net income of $1.38 billion, which tallied up to $5.22 per share. This marked a 16% increase over the $1.19 billion, or $4.53 per share it posted during the same period in its fiscal 2018.
On an adjusted basis, Intuit brought in a profit of $5.55 per share, which was stronger than the Wall Street consensus estimate of $5.40 per share, according to a survey of analysts conducted by FactSet. Revenue tallied up to $3.27 billion, which marked an increase of 12.4% when compared to its third quarter of the previous fiscal year, when it amassed sales of $2.91 billion.
Wall Street said it saw the business bringing in revenue of $3.23 billion, according to a survey of analysts compiled by FactSet. For its fiscal 2019, Intuit said it calls for adjusted earnings in the range of $6.67 to $6.69 per share on sales of $6.74 billion to $6.76 billion.
Analysts are calling for a fourth-quarter loss of 16 cents per share, as well as earnings of $6.54 per share for the fiscal year on sales of $6.66 billion.
INTC stock fluctuated between increasing and decreasing after hours Thursday following the company’s quarterly earnings results, ultimately remaining flat in the afternoon despite results that topped Wall Street’s expectations. Shares had been gaining 1.2% during regular trading hours.
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