Intuit Inc. Bottom Line Drops 38% In Q1

(RTTNews) - Intuit Inc. (INTU) announced earnings for first quarter that decreased compared to the same period last year.

The company said its profit totaled $15 million, or $0.06 per share. This was lower than $24 million, or $0.09 per share, in last year's first quarter.

Analysts had expected the company to earn $0.03 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 9.1% to $778 million. This was up from $713 million last year.

Intuit Inc. earnings at a glance:

-Earnings (Q1): $15 Mln. vs. $24 Mln. last year. -Earnings Decline (Y-o-Y): -37.5% -EPS (Q1): $0.06 vs. $0.09 last year. -EPS Decline (Y-o-Y): -33.3% -Analysts Estimate: $0.03 -Revenue (Q1): $778 Mln vs. $713 Mln last year. -Revenue Change (Y-o-Y): 9.1%

-Guidance: Next quarter EPS guidance: $0.33 - $0.36 Next quarter revenue guidance: $1045 - $1065 Mln Full year EPS guidance: $4.30 - $4.40 Full year revenue guidance: $5000 - $5100 Mln