Credit: Shutterstock photoSoftware maker Intuit Inc. ( INTU ) late Thursday posted a wider net loss in the fiscal fourth quarter, but adjusted results beat analysts' view and the company declared its first-ever dividend payout.
The Mountain View, CA-based company reported a fiscal fourth quarter net loss of $57 million, or -19 cents per share, compared with smaller loss of $48 million, or -15 cents per share, in the year-ago period. Excluding one-time charges, however, adjusted profit was 2 cents per share.
Revenues rose 10% from last year to $593 million.
On average, Wall Street analysts expected the company to break even for the quarter, on lower revenue of $583.1 million.
INTU also declared its first-ever quarterly dividend payout of 15 cents per share, which will be paid on Oct. 15 to shareholder sof record as of Oct. 10.
Intuit shares rose $2.20, or +5.5%, in premarket trading Friday.
The Bottom Line
Shares of Intuit ( INTU ) have a 1.49% dividend yield, based on last night's closing stock price of $40.36. The stock has technical support in the $35-$38 price area. If the shares can firm up, we see overhead resistance around the $44-$46 price levels.
Intuit Inc. ( INTU ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.