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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.