logo
Plus   Neg
Share
Email

Intuit Raises FY Adj. EPS Guidance Due To New U.S. Tax Legislation - Quick Facts

Intuit Inc. (INTU) announced that revenue and operating income for its second fiscal quarter were lower than expected due to the tax season opening later in the current year. Due to the revenue shift and the impact of the Tax Act, for the second quarter, the company expects to report: revenue of $1.160 billion to $1.165 billion, down from the prior range of $1.160 billion to $1.180 billion; and non-GAAP earnings per share of $0.34 to $0.35, up from the prior range of $0.31 to $0.34.

The company expects tax revenue to shift to the third quarter, and therefore reiterated fiscal-year revenue and operating income guidance. Intuit adjusted earnings expectations for the full year earnings per share due to the impact of the 2017 Tax Cuts and Jobs Act. The company now expects non-GAAP earnings per share of $5.30 to $5.40, up from the prior range of $4.90 to $5.00.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A former Southwest Airlines employee has filed a racial discrimination lawsuit against the airline, alleging that the carrier allowed its employees to create a "whites-only" breakroom. The lawsuit was filed in the United States District Court in Houston earlier this week by Jamel Parker, a former employee of Southwest Airlines. American Airlines Inc. has joined its major rivals in raising baggage fees as the airline industry grapples with higher fuel costs and rising operating expenses. The largest U.S. airline said Thursday it is raising the price of a first and second checked bag by $5 each. The price of a first checked bag is now $30, while it is $40 for a second checked bag. The takeover battle by Comcast Corp. nd Rupert Murdoch's 21st Century Fox Inc. for British broadcaster Sky plc will be settled through an auction. The UK Takeover Panel said Thursday that an auction procedure is expected to commence on the evening of Friday, September 21, 2018 and end on the evening of September 22, 2018. The winner of the auction will be announced on Saturday.
Follow RTT