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Intuit Inc. shares rose in the extended session Tuesday after the tax-software company’s results and outlook exceeded Wall Street estimates.
Intuit
INTU,
shares rose 1.1% after hours, following a 0.3% rise in the regular session to close at $554.02.
The company reported fiscal fourth-quarter net income of $380 million, or $1.37 a share, compared with $445 million, or $1.68 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.97 a share, compared with $1.81 a share in the year-ago period.
Revenue rose to $2.56 billion from $1.82 billion in the year-ago quarter.
Analysts surveyed by FactSet had forecast $1.59 a share on revenue of $2.31 billion for the fiscal third quarter.
Intuit forecast fiscal first-quarter earnings of 94 cents to 99 cents a share on a revenue gain of about 36% to 38%, or $1.8 billion to $1.83 billion. Analysts surveyed by FactSet had estimated $1.14 a share on revenue of $1.78 billion for the fourth quarter.
For the year, Intuit now expects earnings of $11.05 to $11.25 a share on revenue of $11.05 billion to $11.2 billion. Analysts expect $10.85 a share on revenue of $10.95 billion for the year.
