Intuit Inc.’s stock initially dipped 3% in extended trading Thursday after the software company reported quarterly results that topped analyst estimates but issued tepid revenue guidance for its current quarter.
Intuit INTU, -0.47% racked up fiscal fourth-quarter net income of $89 million, or 32 cents a share, compared with a net loss of $56 million, or 20 cents a share, in the year-ago quarter. Adjusted earnings were $1.66 a share.Analysts surveyed by FactSet had expected, on average, net earnings of $1.43 a share on revenue of $2.64 billion.
The company offered fiscal first-quarter revenue guidance of between $2.6 billion and $2.88 billion, at the low end of analysts’ estimates of $2.88 billion. “We had a very strong fourth quarter, ending the year with momentum, as we executed on our strategy to be the global AI-driven expert platform powering prosperity for consumers and small businesses,” Intuit Chief Executive Sasan Goodarzi said in a statement announcing the results.
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