Intuit Breaks Even for Q4

Young Rae Kim |

Business and financial management solutions company, Intuit Inc. (INTU) , posted a loss of $16 million for the fiscal fourth quarter. However, the company broke even for its reported adjusted earnings per share basis.

The company’s revenue of $634 million surpassed consensus estimates of $622.95 million. In addition, its quarterly dividend was increased 12 percent to 19 cents per share.

For the first quarter the company expects a loss of 10 cents to 11 cents per share on revenue of $595 million to $605 million. This estimate falls below the $620 million analysts were hoping for.

For the full year, the company now expects to earn between $3.52 and $3.60 per share with a revenue between $4.44 billion and $4.53 billion while analysts anticipate $3.56 per share on revenue of $4.53 billion.

Intuit, maker of products such as Turbotax and Quickens, made changes in order to focus on their core business. In August, it sold Intuit Financial Services for an estimated $1.03 billion while also selling Intuit health in the same month. In September, Intuit sold its website business for $60 million.

President and CEO Brad Smith believes that his company made the right moves in order to secure a successful future.

"We've seized the opportunity to capture lessons learned, make the necessary adjustments, and position the company for a stronger future as we look ahead," Smith said.

Inuit were at $63.14 a share when the market closed but shares dropped after hours. 


DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


Symbol Name Price Change % Volume
INTU Intuit Inc. 174.83 -1.83 -1.04 1,531,687 Trade
RKMSF Rokmaster Resources Corp 0.03 0.00 0.00 0


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