Intuit Tops Estimates, Still Reports Loss
Intuit (NASDAQ: INTU) announced its results for the first quarter on November 17, 2011. Let's take a closer look at the company's industry, financials, and commentary and see what steps you can take next.
Earnings and Revenue:
Intuit managed to exceed Wall Street estimates with stronger-than-expected EPS and revenues, though the company still reported a loss. The company reported 10 cents/share versus the loss of 20 cents/share estimate and revenues of $594 million versus the $580.7 million estimate.
Intuit's revenue has grown during each of the past four quarters on a year-over-year basis.
Income:
Over the past year, Intuit reported net income of $2.28/share. The company trumped analyst projections of $2.15 by 6%.
Conference Call:
The conference call for first quarter earnings can be accessed here.
Official Comment:
"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."
Industry:
With price/earnings growth of 2.2%, Intuit's industry, computer software, is expanding.
What to Do Next:
That's it - now you have all the facts to help you decide whether to buy, sell or hang onto your Intuit shares. And don't forget to check in with us before next earnings season for a full preview of the company's next release.
- To see up-to-date news on Intuit, click here
- To see other trading ideas, click here
- To see other company earnings recaps, click here
(Estimates Source: Zacks)
