Intuit Rises After-Hours

Intuit jumped in extended trading on Tuesday after the enterprise software provider reported higher-than-expected profit and revenue for its fiscal Q3, and raised its FY17 revenue guidance. Shares rose as much as 7.3%.
EPS increased 14% to $3.90 in the three months ended April 30. That topped the $3.87 average estimate of analysts surveyed by Capital IQ.

Q3 revenue increased 10% to $2.541 billion, also surpassing the analyst consensus of $2.50 billion. Looking ahead, the company raised its FY17 revenue guidance and narrowed operating income and EPS guidance. The company anticipates Q4 net loss per share in the range of $0.03 to $0.01, and Q4 revenue in the range of $795 million and $815 million. Analysts had predicted a gain of $0.15 per share on revenue of $782 million. For FY17, the company anticipates EPS range of $4.38 to $4.40, and revenue of $5.13 billion to $5.15 billion. Analysts had forecast $4.34 in EPS and $5.07 billion in revenue.

By Kristin Senesi