financial-software-firm-intuit-trounces-quarterly-targets

Financial Software Firm Intuit Trounces Quarterly Targets

Tax and accounting software maker Intuit (INTU) late Tuesday trounced Wall Street’s targets for its fiscal fourth quarter. Intuit stock rose in extended trading.




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The Mountain View, Calif.-based company earned an adjusted $1.97 a share on sales of $2.56 billion in the quarter ended July 31. Analysts expected Intuit earnings of $1.59 a share on sales of $2.31 billion, according to FactSet. In the year-earlier period, Intuit earned $1.81 a share on sales of $1.82 billion.

In after-hours trading on the stock market today, Intuit stock rose 1.6% near 562.80. During the regular session Tuesday, shares rose 0.3% to 554.02. Earlier in the day, Intuit stock notched a regular-session all-time high of 555.03.

Earnings report details to follow.

Intuit Stock Is A Long-Term Leader

Intuit makes TurboTax tax preparation software as well as QuickBooks, Mint and Credit Karma products.

On May 18, Intuit stock hit a buy point of 422.87 out of a cup-with-handle base, according to IBD MarketSmith charts. Weekly charts on MarketSmith identified two follow-on buy points as the stock marched to a record high on Tuesday.

Intuit stock is in the IBD Long-Term Leaders Portfolio.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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