Business and tax software maker Intuit Inc. (
INTU ) late Thursday said its fiscal third quarter
loss narrowed from last year, as revenue rose amid a difficult
The Mountain View, CA-based company reported a fiscal first
quarter net loss of $19 million, or 6 cents per share, compared
with a loss of $64 million, or 21 cents per share, in the year-ago
period. Excluding special items, its adjusted loss was 3 cents per
Revenue rose 13% from last year to $647 million.
On average, Wall Street analysts expected a worse loss of 6
cents per share, on lower revenue of $639.4 million.
Looking ahead, INTU forecast fiscal second quarter earnings of
40 to 43 cents per share, which would badly miss Wall Street's view
of 59 cents. The company stood by its adjusted full-year outlook of
$3.32 to $3.38 per share, however.
Intuit shares rose $1.05, or +1.8%, in premarket trading
The Bottom Line
Shares of Intuit ( INTU ) have a 1.16% dividend
yield, based on last night's closing stock price of $58.77. The
stock has technical support in the $55-$56 price area. The stock is
trading near the all-time high levels of $60-$62 a share.
Intuit Inc. ( INTU ) is not recommended at
this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well
as a detailed explanation of our ratings system here .
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