Intuit Inc. (INTU) reported a net loss of $68 million or $0.21 per share for the first quarter, compared to a loss of $52 million or $0.16 per share in the year-ago quarter.
Non-GAAP net loss was $32 million or $0.10 per share, compared to $28 million or $0.09 per share in the prior year quarter. Non-GAAP operating loss was $39 million.
Revenue for the first quarter increased 2% to $493 million from $481 million in the previous year quarter.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.16 per share on revenue of $487.69 million for the quarter. Analysts' estimates typically exclude special items.
For the second quarter, the company expects GAAP earnings of $0.15 to $0.18 per share, and non-GAAP earnings of $0.29 to $0.32 per share. Revenue is estimate to be $835 million for the quarter. Street expects earnings of $0.37 per share on revenue of $832.99 million for the quarter.
For fiscal 2010, the company estimates revenue of $3.3 billion to $3.43 billion, representing a growth of 4% to 8%. Analysts project revenue of $3.38 billion for the year.
The company said that it has repurchased $300 million of shares of stock in the quarter, and the board approved a new repurchase program of $600 million.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.