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Intuit: Fiscal 3Q Earnings Snapshot

MOUNTAIN VIEW, Calif. (AP) _ Intuit Inc. (INTU) on Thursday reported fiscal third-quarter profit of $1.38 billion.

The Mountain View, California-based company said it had net income of $5.22 per share. Earnings, adjusted for stock option expense and non-recurring costs, were $5.55 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $5.39 per share.

The maker of TurboTax, QuickBooks and other accounting software posted revenue of $3.27 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $3.24 billion.

For the current quarter ending in July, Intuit expects its results to range from a loss of 16 cents per share to a loss of 14 cents per share.

The company said it expects revenue in the range of $948 million to $968 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $884.5 million.

Intuit expects full-year earnings in the range of $6.67 to $6.69 per share, with revenue ranging from $6.74 billion to $6.76 billion.

Intuit shares have climbed 23% since the beginning of the year, while the Standard & Poor's 500 index has increased 14%. In the final minutes of trading on Thursday, shares hit $241.31, a rise of 23% 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