Intuit Backs Q1, FY17 Outlook

(RTTNews) - Intuit Inc. (INTU) reaffirmed its financial guidance for the first quarter and full fiscal year 2017.

Intuit reaffirmed its guidance in conjunction with Investor Day, being held today at the company's Mountain View, Calif., headquarters. Chairman and Chief Executive Officer Brad Smith and company leaders will address the company's priorities in support of its strategy to be the operating system behind small business success, and to do the nations' taxes in the U.S. and Canada.

For the first quarter, which ends October 31, the company still expects GAAP loss per share of $0.19 to $0.21, Non-GAAP earnings per share of $0.01 to $0.03, and revenue of $740 million to $760 million, growth of 4 to 7 percent. Analysts polled by Thomson Reuters expect the company to report earnings of $0.03 per share and revenues of $757.12 million for the first-quarter. Analysts' estimates typically exclude special items.

For fiscal year 2017, which ends July 31, the company still expects GAAP earnings per share of $3.35 to $3.45, versus $3.69 in fiscal 2016. Non-GAAP earnings per share is still expected to be in the range of $4.30 to $4.40, growth of 14 to 16 percent. It projects revenue of $5 billion to $5.1 billion, growth of 7 to 9 percent.

Wall Street currently is looking for fiscal year 2017 earnings of $4.35 per share on annual revenues of $5.05 billion.