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.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Apple Inc.'s Chief Executive Officer Tim Cook has defended his company's decision to use Google as the default search engine on Apple products, including iPhones. He also said that regulation of tech companies is inevitable. In an interview with Axios for "Axios on HBO" airing Sunday night, Axios technology correspondent Ina Fried asked Cook why Apple accepts payments from Google. Amazon.com Inc.'s (AMZN) Chief Executive Jeff Bezos has told the company's employees said that the tech giant is not too big to fail, according to media reports. Shares of Nordstrom Inc. (JWN) slipped 10 percent in extended hours on Thursday after the department store chain's full-year revenue outlook fell short of Street estimates. Seattle-based Nordstrom's third-quarter profit dropped to $67 million or $0.39 per share from $114 million or $0.67 per share...
Follow RTT