Corrects headline and text to show that the company cut its fiscal year 2013 reported earnings outlook, but maintained its revenue and adjusted earnings outlook for the fiscal year.
Intuit Inc. (INTU) Tuesday reported third-quarter net income of $822 million or $2.71 per share, compared to $734 million or $2.42 per share in the comparable quarter last year.
Excluding items, net income for the quarter rose to $901 million or $2.97 per share from $763 million or $2.52 per share last year.
Total revenues for the quarter increased 13 percent to $2.18 billion from $1.93 billion in the year-ago period.
On average, analysts polled by Thomson Reuters expected earnings of $2.93 per share on revenues of $2.18 billion for the quarter. Analysts' estimates typically exclude special items.
Looking forward to the fourth quarter, the company expects earnings of $0.07 to $0.11 per share, adjusted earnings of $0.03 to $0.07 per share and revenues of $702 million to $727 million.
Analysts currently estimate earnings of $0.11 per share and revenues of $726.72 million for the fourth quarter.
For the full fiscal year 2013, Intuit cut its reported earnings outlook to a range of $2.77 to $2.81 per share from its prior outlook of $2.90 to $2.94 per share.
The company continues to expect revenue of $4.50 billion to $4.52 billion and adjusted earnings of $3.31 to $3.35 per share.
Analysts currently estimate earnings of $3.33 per share on revenues of $4.51 billion for the year.
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