Intuit stock rises after earnings, outlook beat
Intuit Inc. INTU, -2.51% 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.
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