MOUNTAIN VIEW, Calif. (AP) — MOUNTAIN VIEW, Calif. (AP) — Intuit Inc. (INTU) on Thursday reported a loss of $20 million in its fiscal fourth quarter.
The Mountain View, California-based company said it had a loss of 7 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.99 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.86 per share.
The maker of TurboTax, QuickBooks and other accounting software posted revenue of $3.18 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $3.08 billion.
For the year, the company reported profit of $2.96 billion, or $10.43 per share. Revenue was reported as $16.29 billion.
For the current quarter ending in October, Intuit expects its per-share earnings to range from $2.33 to $2.38.
The company said it expects revenue in the range of $3.11 billion to $3.15 billion for the fiscal first quarter.
Intuit expects full-year earnings in the range of $19.16 to $19.36 per share, with revenue ranging from $18.16 billion to $18.35 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INTU at https://www.zacks.com/ap/INTU
