UPDATE: Intuit Posts Q4 Profit, Lifts Dividend By 13%
Intuit (NASDAQ: INTU) posted a profit in its fiscal fourth quarter.
The company lifted its quarterly dividend by 13% to $0.17 per share.
For the year, Intuit expects earnings of $3.32 to $3.38 per share on revenue of $4.55 billion to $4.65 billion. However, analysts were expecting earnings of $3.37 per share on revenue of $4.62 billion.
Intuit expects current-quarter loss of $0.06 to $0.07 per share on revenue of $630 million to $640 million. However, analysts were expecting a loss of $0.08 per share on revenue of $653 million.
Intuit posted a FQ4 profit of $4 million, or a penny per share, versus a year-ago loss of $57 million, or $0.19 per share. Excluding other items, its earnings from continuing operations came in at $0.03 per share.
Intuit's revenue surged 14% to $651 million. The company in May expected earnings of $0.05 to $0.07 per share on revenue of $647 million to $662 million.
Intuit shares dropped 2.68% to $57.37 in after-hours trading.
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