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.
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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