Shares of accounting software giant Intuit (INTU) - Get Report jumped more than 6% on Friday after the company reported fiscal third-quarter earnings and revenue numbers that beat analysts' forecasts amid strong demand for its small business and TurboTax Live offerings.
Shares of Intuit were up $14.57 to $255.88 in afternoon trading on the Nasdaq Stock Market after the company beat Wall Street's targets for its fiscal third quarter and raised its guidance for the current quarter.
The Mountain View, Calif.-based company earned an adjusted $5.55 a share on sales of $3.27 billion in the quarter ended April 30. Analysts polled by FactSet had been expecting earnings of $5.40 a share on sales of $3.235 billion.
"This was a strong quarter across the company," Intuit CEO Sasan Goodarzi said in a statement. "We are on track to exceed the guidance we provided at the beginning of the year."
For its fiscal fourth quarter ending July 31, Intuit said it now expects non-GAAP per-share earnings of between $6.67 and $6.69. Analysts polled by FactSet were predicting earnings per share of $6.54.
On the sales side, Intuit said it now anticipates revenue of between $6.74 billion and $6.76 billion, and non-GAAP operating income of between $2.26 billion and $2.27 billion.