Intuit has loss in seasonally weak fourth quarter
|
|
|
BOSTON (Reuters) - Intuit Inc , maker of TurboTax tax preparation software, reported on Thursday that it had a wider loss in its seasonally weak fourth quarter, which ended July 31.The company had a fiscal fourth-quarter loss of $61.9 million, or 19 cents per share, compared with a loss of $13.6 million, or 4 cents, a year earlier.Revenue rose 11 percent to $478 million.Intuit typically loses money in its fourth and first quarters. It more than compensates for those losses with profits in the second and third quarters that are generated by sales of TurboTax software.The software maker projected that revenue would grow between 9 percent and 12 percent this fiscal year to $3.35 billion to $3.43 billion, suggesting sales could miss the forecasts of some Wall Street analysts.Analysts on average expect the company to report full-year revenue of $3.43 billion, according to Reuters Estimates.The company also forecast it will report full year profit excluding items of $1.86 to $1.90.Analysts expect it to report profit excluding items of$1.86.(Reporting by Jim Finkle; Editing by Phil Berlowitz and Andre Grenon)
(c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
|
|
|
|
|
|
Related News
FDIC: 'Problem' banks at 16-year high in US
Washington - The number of US banks in danger of collapse has risen to the highest level in 16 years, a government regulator reported Tuesday in a sign that the country's worst financial crisis in decades is still lingering. The Federal Deposit Insur...
American shoppers lace up racing shoes for Black Friday
Los Angeles - Up to 134 million Americans are expected to splash out with their cash when the holiday shopping season kicks off on traditional Black Friday. The National Retail Federation Tuesday said it anticipated that the easing recession will sen...
US stocks edge lower on revised growth figures
New York - US stocks fell slightly on Tuesday as government figures showed that last quarter's economic rebound was smaller than initially thought. The Commerce Department in an updated estimate said the economy grew at an annual rate of 2.8 per cent...
US economic rebound smaller than thought; Fed optimistic - Summary
Washington - The US economy's rebound from a deep recession was smaller than initially thought, according to new government figures Tuesday, while the Federal Reserve said it expects the country's recovery to pick up...
EXTRA: US central bank issues rosier outlook on economy
Washington - The Federal Reserve Tuesday raised its growth forecasts for the US economy, but warned that unemployment in the United States will remain for some time at its highest levels in a generation. The US central bank projected the world's larg...
US levies first-ever fines on airlines who stranded passengers
Washington - Three US airlines were fined a total of 175,000 dollars on Tuesday for leaving passengers stranded nearly six hours on an aircraft, the first-ever such penalty imposed by the US government. Continental Airlines and ExpressJet Airlines we...
US economy grew 2.8 per cent in third quarter - Summary
Washington - The US economy grew at an annual rate of 2.8 per cent in the third quarter of this year, according to an updated government estimate Tuesday that confirmed the United States has likely emerged from its deepest recession in decades. But t...
|
|
|
|
|
|
|
|
