Intuit Inc. (NASDAQ:INTU) had a loss and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.27%.
Intuit Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $0 in the quarter versus EPS of $0.03 in the year-earlier quarter.
Revenue: Rose 6.91% to $634 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Intuit Inc. reported adjusted EPS loss of $0 per share. By that measure, the company missed the mean analyst estimate of $0. It beat the average revenue estimate of $622.95 million.
Quoting Management: “Fiscal 2013 has been a year of exciting wins, as well as some challenges. We posted strong growth in Small Business, but fell short of our expectations in Consumer Tax. 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,” said Brad Smith, Intuit’s president and chief executive officer.
Key Stats (on next page)…
Revenue decreased 70.89% from $2.18 billion in the previous quarter. EPS decreased to $0 in the quarter versus EPS of $2.97 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.02 to a loss $0.03. For the current year, the average estimate has moved down from a profit of $3.33 to a profit of $3.16 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)