Business and financial software maker Intuit Inc. (INTU) late Thursday posted an uptick in fiscal third quarter earnings, beating Wall Street estimates, although its revenue totals slightly missed expectations.
The Mountain View, CA-based company reported fiscal third quarter net income of $734 million, or $2.42 per share, compared with $688 million, or $2.20 per share, in the year-ago period. Excluding one-time items, adjusted profit was $2.51 per share.
Revenue rose 5% from last year to $1.95 billion.
On average, Wall Street analysts expected a smaller profit of $2.48 per share, albeit on slightly higher revenue of $1.96 billion in revenue.
Intuit shares closed down 69 cents, or -1.3%, in premarket trading Thursday.
The Bottom Line
Shares of Intuit (INTU) have a 1.10% dividend yield, based on today’s closing stock price of $54.41. The stock has technical support in the $50 price area. If the stock can firm up, we see overhead resistance around the all-time high range of $56-$61 a share.
Intuit Inc. (INTU) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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