Intuit (INTU) Releases Earnings Results, Beats Expectations By $0.10 EPS

Intuit (INTU) reported quarterly earnings results on Tuesday, Aug-23-2016. The company said it had a profit of $0.08 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $-0.02. The company posted revenue of $754.00 million in the period, compared to analysts expectations of $735.35 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.

Many Wall Street Analysts have commented on Intuit. Company shares were Reiterated by RBC Capital Mkts on Aug 15, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 113 from a previous price target of $93 .Company shares were Downgraded by Barclays on Jul 15, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 116 from a previous price target of $110 .

Intuit opened for trading at $112.59 and hit $113.19 on the upside on Friday, eventually ending the session at $112.8, with a gain of 0.23% or 0.26 points. The heightened volatility saw the trading volume jump to 9,24,483 shares. Company has a market cap of $28,862 M.

In a different news, on Jun 27, 2016, Henry Tayloe Stansbury (EVP, Chief Technology Officer) sold 2,787 shares at $103.86 per share price. According to the SEC, on Jun 21, 2016, Laura A Fennell (EVP, Gen. Counsel & Corp Sec.) sold 10,056 shares at $107.31 per share price. On Jun 20, 2016, Johnson Suzanne M Nora (director) sold 30,000 shares at $105.23 per share price, according to the Form-4 filing with the securities and exchange commission.

Intuit Inc. is a provider of business and financial management solutions for small businesses consumers and accounting professionals. The Company operates through three segments: Small Business Consumer Tax and Professional Tax. The Company operates in the United States Canada India the United Kingdom Singapore and Australia among others. The Company’s Small Business segment solutions include QuickBooks Online Online Payroll solutions Online Payments solutions and Intuit Developer Group. The Company’s Small Business Desktop Ecosystem solutions include QuickBooks Desktop Payroll Solutions Desktop Payments solutions QuickBooks Technical Support and financial supplies. The Consumer Tax segment offers tax return preparation offerings electronic filing and other services and Intuit Tax Freedom Project. The Company’s professional tax offerings include Lacerte and ProSeries.


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