(RTTNews) - Shares of accounting software maker Intuit Inc. (INTU) are rising almost 6 percent or $19.91 in Wednesday's morning trade at $356.33, after touching a new 52-weeek high of $360 earlier, as the company's results for the fourth quarter trumped Wall Street estimates.
Tuesday, Intuit reported net income for the fourth quarter of $445 million or $1.68 per share, compared to net loss of $44 million or $0.17 per share in the year-ago period. Adjusted earnings were $1.81 per share. Net revenue rose to $1.82 billion from $0.99 billion last year.
Analysts polled by Thomson Reuters expected earnings of $1.05 per share on revenues of $1.57 billion.
Intuit has traded in a range of $187.68 to $36.00 in the past 52 weeks.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.