Intuit Inc. Q3 Profit Increases, Beats Estimates

(RTTNews) - Intuit Inc. (INTU) reported a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $2.39 billion, or $8.42 per share. This compares with $2.09 billion, or $7.38 per share, in last year's third quarter.

Excluding items, Intuit Inc. reported adjusted earnings of $2.8 billion or $9.88 per share for the period.

Analysts on average had expected the company to earn $9.37 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.8% to $6.73 billion from $6.02 billion last year.

Intuit Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $2.39 Bln. vs. $2.09 Bln. last year. -EPS (Q3): $8.42 vs. $7.38 last year. -Revenue (Q3): $6.73 Bln vs. $6.02 Bln last year.

-Guidance: Next quarter revenue guidance: $3.06-$3.09 Billion Full year EPS guidance: $10.78-$10.83 Full year revenue guidance: $16.16-$16.2 Billion

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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