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.
Buy Stop at 141.00, Take profit 143.00, Stop loss at 140.00