Shares of Intuit Soar Sharply Following Upbeat Earnings Report and Rosy Outlook

Shares of Intuit Inc. soared considerably more than 9 percent in extended session on Tuesday after the software company reported better-than-expected earnings and forecast an upbeat outlook for the current quarter.

Intuit posted third-quarter earnings of $964 million or $3.70 a share, down from $1.03 billion or $3.94 a share, recorded a year earlier. Adjusted for one-time items, earnings per share came in at $3.90 a share.

Revenue was reported to jump to $2.54 billion from $2.3 billion, topping analysts’ forecast for earnings of $3.87 a share on revenue of $2.5 billion.

The company anticipated fourth-quarter revenue to fall in a range between $795 million and $815 million while adjusted earnings per share to reach 16 cents to 18 cents. Forecast are ahead of Wall Street’s estimates.

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