Intuit's Loss Widens

MOUNTAIN VIEW, Calif. -- Tax preparation and personal finance-software maker Intuit(INTU Quote) on Wednesday said its fiscal first-quarter loss more than doubled, as it lost the income of a business it sold last year, but per-share results beat Wall Street expectations.

The company also cut its guidance for the year, and shares wobbled in aftermarket trading.

For the three months ended Oct. 31, Intuit reported a loss of $52.1 million, or 16 cents per share, compared with a loss of $20.8 million, or 6 cents per share, in the year-ago period.

In the year-ago quarter, the company booked a loss from continuing operations -- which excludes results from businesses that have been, or are in the process of being sold -- of $47.6 million, or a loss of 14 cents per share. ...