Intuit Profit Tops Estimates; Lifts FY Outlook

(RTTNews) - Accounting software maker Intuit Inc (INTU) on Thursday reported third-quarter net earnings of $501 million or $1.78 per share, compared with $984 million or $3.39 per share last year.

Excluding items, adjusted earnings for the quarter were $2.85 per share, compared with $3.53 per share a year ago.

On average, 17 analysts polled by Thomson Reuters estimated earnings of $2.74 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter slid 8 percent to $2.19 billion from $2.39 billion in the prior year. Fourteen analysts had a consensus revenue estimate of $2.15 billion for the quarter.

For the fourth quarter, the company expects adjusted loss of $0.12 to $0.10 per share on revenues of $720 million to $745 million. Analysts expect a loss of $0.05 per share on revenues of $728.4 million.

For the full year 2015, the company now expects adjusted earnings of $2.50 to $2.52 per share on revenues of $4.40 billion to $4.42 billion. Earlier it expected earnings of $2.45 to $2.50 per share on revenues of $4.28 billion to $4.38 billion.

Analysts expect earnings of $2.52 per share on revenues of $4.36 billion for the year.