Intuit Q1 Loss Narrows; Backs FY14 Outlook - Quick Facts

(RTTNews) - Intuit Inc. (INTU) Tuesday reported first-quarter net loss of $11 million or $0.04 per share, narrower than $19 million or $0.06 per share in the comparable quarter last year.

Excluding items, net loss for the quarter widened to $16 million or $0.06 per share from $15 million or $0.05 per share last year.

Total net revenue for the latest first quarter increased 11 percent to $622 million from $562 million in the year-ago period.

On average, analysts polled by Thomson Reuters expected a loss of $0.10 per share on revenues of $603.00 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company expects GAAP net loss of $0.12 to $0.14 per share, adjusted income of $0.25 to $0.27 per share and revenues of $890 million to $910 million.

Analysts currently estimate loss of $0.30 per share and revenues of $913.55 million for the second quarter.

For the full fiscal year 2014, Intuit continues to expect GAAP earnings in the range of $3.11 to $3.19 per share, Non-GAAP earnings of $3.52 to $3.60 per share and revenue of $4.44 billion to $4.53 billion.

Analysts currently estimate earnings of $3.56 per share on revenues of $4.48 billion for the year.