Intuit Q1 Loss Narrower Than Estimates

(RTTNews) - Accounting software maker Intuit Inc (INTU) Thursday reported first-quarter net loss of $84 million or $0.29 per share, compared with a loss of $11 million or $0.04 per share last year.

Excluding items, adjusted loss for the quarter was $0.10 per share, compared with a loss of $0.06 per share a year ago.

On average, 16 analysts polled by Thomson Reuters estimated a loss of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were $672 million compared with $622 million in the prior year. Twelve analysts had a consensus revenue estimate of $620.8 million for the quarter.

For the second quarter, Intuit expects adjusted loss of $0.13 to $0.11 per share on revenues of $780 million to $800 million. Analysts expect a loss of $0.11 per share on revenues of $767.5 million.

For the full year 2015, Intuit still expects adjusted earnings of $2.45 to $2.50 per share on revenues of $4.28 billion to $4.38 billion. Analysts project earnings of $2.48 per share on revenues of $4.34 billion.