Intuit Inc. INTU announced financial results Thursday for the first quarter of fiscal 2015, which ended October 31. Revenue came in at $672 million, above estimates of $620.78 million and up from the $622 million reported in the year-ago period.
Non-GAAP EPS was $(0.10), a narrower loss than the estimated $(0.20) but greater than the $(0.06) reported in the year-ago period.
“We began fiscal 2015 on a strong note. Our shift to the cloud continues to accelerate customer growth, led by QuickBooks Online,” said Brad Smith, Intuit’s president and chief executive officer. “We’re also gearing up for tax season and are looking forward to our lineup of innovative solutions coming to market."
The company reiterated full year guidance and for the second quarter of fiscal 2015 expected revenue of $780 million to $800 million and a Non-GAAP loss per share of $0.11 to $0.13 with QuickBooks Online subscribers of approximately 800,000.
Intuit traded at $90.74 in the after-hours session, up a penny.
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