Intuit: Fiscal Q1 Earnings Snapshot

MOUNTAIN VIEW, Calif. (AP) — MOUNTAIN VIEW, Calif. (AP) — Intuit Inc. (INTU) on Tuesday reported fiscal first-quarter net income of $241 million.

On a per-share basis, the Mountain View, California-based company said it had net income of 85 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to $2.47 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.98 per share.

The maker of TurboTax, QuickBooks and other accounting software posted revenue of $2.98 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $2.87 billion.

For the current quarter ending in January, Intuit expects its per-share earnings to range from $2.25 to $2.31.

The company expects full-year earnings in the range of $16.17 to $16.47 per share, with revenue ranging from $15.89 billion to $16.11 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INTU at https://www.zacks.com/ap/INTU