Intuit: Fiscal Q1 Earnings Snapshot

MOUNTAIN VIEW, Calif. (AP) — MOUNTAIN VIEW, Calif. (AP) — Intuit Inc. (INTU) on Thursday reported fiscal first-quarter profit of $446 million.

The Mountain View, California-based company said it had net income of $1.59 per share. Earnings, adjusted for one-time gains and costs, were $3.34 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.10 per share.

The maker of TurboTax, QuickBooks and other accounting software posted revenue of $3.89 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $3.76 billion.

For the current quarter ending in January, Intuit expects its per-share earnings to range from $3.63 to $3.68.

The company said it expects revenue in the range of $4.52 billion to $4.55 billion for the fiscal second quarter.

Intuit expects full-year earnings in the range of $22.98 to $23.18 per share, with revenue ranging from $21 billion to $21.19 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INTU at https://www.zacks.com/ap/INTU