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Intuit Misses Estimates, Predicts Weak Q1

But the software maker raised its quarterly dividend by 13%


Intuit (NASDAQ:INTU) said on Tuesday that it earned $4 million during its fiscal fourth quarter, compared to a loss $57 million in the same period last year.

The software maker recorded revenue of $651 million, up 14% from 2011. But that still fell just short of the $652.5 million that Wall Street had been looking for, Reuters noted.

Paul Ryan Releases Tax Returns
Paul Ryan Releases Tax Returns

Adjusted EPS for the quarter was 3 cents, which also missed analysts’ forecasts of 6 cents a share.

Looking forward, the creator of TurboTax software predicted a loss of between 6 cents and 7 cents a share for the fiscal first quarter. Revenue for the current quarter is anticipated to range from $630 million to $640 million.

The guidance was well below Wall Street’s estimates for revenue of $653.1 million and earnings of 8 cents a share.

Shares of Intuit slipped fractionally in pre-market trading on Wednesday.

On a brighter note, Intuit increased its quarterly dividend to 17 cents a share, up 13% from previous dividends.

Company officials said growth in consumer tax preparation products like TurboTax — which generate 50% of revenues — had been flat compared to last year.

Article printed from InvestorPlace Media,

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