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Intuit: Fiscal 1Q Earnings Snapshot

MOUNTAIN VIEW, Calif. (AP) _ Intuit Inc. (INTU) on Thursday reported fiscal first-quarter earnings of $57 million.

On a per-share basis, the Mountain View, California-based company said it had profit of 22 cents. Earnings, adjusted for one-time gains and costs, came to 41 cents per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The maker of TurboTax, QuickBooks and other accounting software posted revenue of $1.17 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $1.12 billion.

For the current quarter ending in February, Intuit expects its per-share earnings to range from $1 to $1.03. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.14.

The company said it expects revenue in the range of $1.67 billion to $1.69 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $1.66 billion.

Intuit expects full-year earnings in the range of $7.50 to $7.60 per share, with revenue ranging from $7.44 billion to $7.54 billion.

Intuit shares have increased 38% since the beginning of the year, while the Standard & Poor's 500 index has increased 24%. In the final minutes of trading on Thursday, shares hit $270.96, an increase of 37% in the last 12 months.


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