Intuit Beats on Top and Bottom Lines
Courtesy of Benzinga.
Shares of Intuit (NASDAQ: INTU) are trading lower in the after-hours following the release of the company’s Q1 earnings results. Currently, shares are lower by 0.12%, trading at $51.69; they ended the regular session lower by 3.18%, at $51.75.
Intuit reported Q1 EPS of ($0.10) on revenues of $594 million; the Street was looking for ($0.12) per share on revenues of $580.68 million. Revenues increased 11.7% year over year.
“We’re off to another strong start in fiscal 2012, growing revenue double-digits. Growth was led by our Small Business Group, which has now posted double-digit growth for seven consecutive quarters,” said Brad Smith, president and chief executive officer.
“Across the board our first-quarter results are in line with our expectations, so we are reiterating our guidance for fiscal 2012.”
The company sees Q2 EPS in the range of $0.43-0.47 on revenues of $1.0-1.2 billion; the Street was at $0.43 per share on revenues of $1 billion
Intuit Inc. is a provider of business and financial management solutions for small and medium-sized businesses, consumers, accounting professionals and financial institutions.
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