Financial software firm Intuit (INTU) late Tuesday beat expectations for earnings in its fiscal third quarter though sales missed views. Its outlook for the current quarter also came up short. INTU stock fell in extended trading.
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The Mountain View, Calif.-based company earned an adjusted $8.92 a share on sales of $6.02 billion in the quarter ended April 30. Analysts polled by FactSet had expected earnings of $8.48 a share on sales of $6.09 billion. In the year-earlier period, Intuit earned $7.65 a share on sales of $5.63 billion.
In after-hours trading on the stock market today, INTU stock sank 3% to 436.41. During the regular session, INTU stock fell 1% to close at 449.80.
Earnings report details to follow.
Intuit is tied for first place out of 41 stocks in IBD’s Computer Software-Financial industry group, according to IBD Stock Checkup. INTU stock has an IBD Composite Rating of 98 out of 99.
Further, INTU stock is on the IBD Tech Leaders list.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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