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Intuit: Fiscal 1Q Earnings Snapshot

·1 min read

MOUNTAIN VIEW, Calif. (AP) _ Intuit Inc. (INTU) on Thursday reported fiscal first-quarter earnings of $198 million.

The Mountain View, California-based company said it had profit of 75 cents per share. Earnings, adjusted for one-time gains and costs, were 94 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.

The maker of TurboTax, QuickBooks and other accounting software posted revenue of $1.32 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $1.2 billion.

For the current quarter ending in February, Intuit expects its per-share earnings to range from $1.31 to $1.34. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.23.

The company said it expects revenue in the range of $1.83 billion to $1.85 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $1.8 billion.

Intuit expects full-year earnings in the range of $8.40 to $8.55 per share, with revenue ranging from $8.27 billion to $8.41 billion.

Intuit shares have risen 38% since the beginning of the year, while the Standard & Poor's 500 index has climbed 11%. In the final minutes of trading on Thursday, shares hit $361.61, a climb of 33% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INTU at https://www.zacks.com/ap/INTU