Intuit: Fiscal Q1 Earnings Snapshot

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MOUNTAIN VIEW, Calif. (AP) — MOUNTAIN VIEW, Calif. (AP) — Intuit Inc. (INTU) on Thursday reported fiscal first-quarter earnings of $197 million.

On a per-share basis, the Mountain View, California-based company said it had net income of 70 cents. Earnings, adjusted for one-time gains and costs, were $2.50 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.36 per share.

The maker of TurboTax, QuickBooks and other accounting software posted revenue of $3.28 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $3.14 billion.

For the current quarter ending in January, Intuit expects its per-share earnings to range from $2.55 to $2.61.

The company said it expects revenue in the range of $3.81 billion to $3.85 billion for the fiscal second quarter.

Intuit expects full-year earnings in the range of $19.16 to $19.36 per share, with revenue ranging from $18.16 billion to $18.35 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INTU at https://www.zacks.com/ap/INTU