Intuit Inc. Earnings Cheat Sheet: Loss Narrows and Beats Estimates

S&P 500 (NYSE:SPY) component Intuit Inc.’s (NASDAQ:INTU) first quarter loss narrowed, beating estimates. Intuit provides business and financial management solutions for businesses, consumers, accounting professionals and financial institutions.

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Intuit Earnings Cheat Sheet for the First Quarter

Results: Loss narrowed to $64 million (loss of 21 cents per diluted share) from $70 million (loss of 22 cents per share) in the same quarter a year earlier.

Revenue: Rose 11.7% to $594 million from the year earlier quarter.

Actual vs. Wall St. Expectations: INTU reported an adjusted net loss of 10 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 20 cents per share. It beat the average revenue estimate of $580.7 million.

Quoting Management: “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.”

Key Stats:

Revenue has risen the past four quarters. Revenue increased 10.4% to $593 million in the fourth quarter of the last fiscal year. The figure rose 15% in the third quarter of the last fiscal year from the year earlier and climbed 4.9% in the second quarter of the last fiscal year from the year-ago quarter.

The company topped expectations last quarter after falling short of forecasts in the fourth quarter of the last fiscal year with a loss of 11 cents versus a mean estimate of a loss of 10 cents per share.

Looking Forward: Expectations for the company’s next quarter results are lower than they have been. Over the past sixty days, the average estimate for second quarter has fallen from 36 cents per share to 35 cents. For the fiscal year, the average estimate has moved up from $2.49 a share to $2.57 over the last ninety days.

Competitors to Watch: Microsoft Corporation (NASDAQ:MSFT), H&R Block, Inc. (NYSE:HRB), Fiserv, Inc. (NASDAQ:FISV), NetSuite Inc. (NYSE:N), salesforce.com, inc. (NYSE:CRM), Nuance Communications Inc. (NASDAQ:NUAN), Fidelity National Information Services (NYSE:FIS), Paychex, Inc. (NASDAQ:PAYX), Automatic Data Processing (NASDAQ:ADP), and Oracle Corporation (NASDAQ:ORCL).

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)