Intuit stock jittery after earnings beat
Intuit Inc. shares fluctuated between gains and losses in the extended session Tuesday after the company reported earnings that beat Wall Street estimates and raised full fiscal-year guidance. Intuit stock fell less than 1% to $190.54 during regular trading. The company reported fiscal third-quarter net income of $1.2 billion, or $4.59 a share, compared with $964 million, or $3.70 a share, in the year-ago period. Adjusted earnings were $4.82 a share. Revenue rose to $2.93 billion from $2.54 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $4.68 a share on revenue of $2.86 billion. For the fiscal fourth quarter, analysts model adjusted earnings of 29 cents on sales of $891 million. The company said it expects fourth-quarter adjusted earnings of 22 cents to 24 cents a share on sales of $940 million to $960 million. Intuit said it expects full-year earnings of $5.51 to $5.53 a share on sales of $5.92 billion to $5.94 billion; analysts expected earnings of $5.43 a share and revenue of $5.79 billion. Intuit stock has gained 21% this year, with the S&P 500 index rising 2.2%.
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