Updated from 4:46 p.m. ET to include latest share prices, additional information about Canadian Solar and Cheesecake Factory.
NEW YORK (
) -- Shares of
rose in late trades on Tuesday after the business software maker topped Wall Street's profit view for its fiscal second quarter.
The Mountain View, Calif.-based company, whose products include the TurboTax and QuickBooks applications, reported non-GAAP earnings of $156 million, or 51 cents a share, for the three months ended Jan. 31 on revenue of $1.02 billion. The average estimate of analysts polled by
was for a profit of 45 cents a share in the quarter on revenue of $1.01 billion.
For its fiscal third quarter ending in April, Intuit sees non-GAAP earnings of $2.47 to $2.55 a share on revenue ranging from $1.95 billion to $1.99 billion. The current analysts' view for the quarter is for a profit of $2.49 a share on revenue of $1.98 billion. The third quarter is the company's biggest each year because of the April 15 deadline to complete income taxes.
The stock was last quoted at $59.50, up 3.4%, on volume of nearly 125,000, according to
. Based on Tuesday's regular-session close at $57.52, the shares are up 9.1% so far in 2012. They had pulled back slightly since hitting a 52-week high of $58.90 on Feb. 3.
"We had a strong second quarter and have built solid momentum through the first half of the fiscal year, with revenue growing double-digits, driven by our core businesses. We are on track to deliver the revenue guidance we set for the full year, and we raised our guidance for fiscal 2012 operating income and EPS," said Brad Smith, the company's president and CEO, in a statement.
Smith continued: "We are off to a great start in tax. Early indications are positive and we are pleased with how the business is performing so far. Third-party data and our unit sales through Feb. 18 give us confidence that the software category is growing and that we are executing well."
For the full year ending in July, Intuit forecast non-GAAP earnings of $2.90 to $2.97 a share on revenue of between $4.185 billion to $4.285 billion. The average estimate of analysts polled by
is for a profit of $2.92 a share on revenue of $4.235 billion.
Wall Street was bullish ahead of the report with 14 of 21 analysts covering Intuit at strong buy (9) or buy (5), although the 12-month median price target is at $58.75, indicating some trepidation about the valuation with the forward price-to-earnings multiple sitting at 17.3X at current levels.
Check out TheStreet's quote page for Intuit for year-to-date share performance, analyst ratings, earnings estimates and much more.
lost ground in the extended session after the PC maker's fiscal fourth-quarter earnings
of the consensus view despite a solid performance on the top line.
Dell reported non-GAAP earnings of $913 million, or 51 cents a share, on revenue of $16.03 billion for the three months ended Feb. 3. The average estimate of analysts polled by
was for a profit of 52 cents a share on revenue of $15.96 billion.
For the current fiscal year, the company expects non-GAAP earnings to exceed its $2.13 a share performance last year. Wall Street's current estimate is for a profit of $2.05 a share in the fiscal year ending in January 2013. Dell added that it expects a sequential decline in revenue of 7% in its fiscal first quarter ending in April.
That implies a revenue total of $14.89 billion for the current quarter, below the current consensus estimate of $15.17 billion.
Dell shares were last quoted at $17.29, down 5.1%, on late volume of 3.1 billion, according to
. Based on Tuesday's regular-session close at $18.21, the stock had outperformed in 2012, rising more than 24%.
was also active in the after-hours session, gaining 6% to $5.83 on volume of around 700,000 following a strong fiscal first-quarter earnings report.
The San Jose, Calif.-based maker of communications networking equipment posted a non-GAAP profit of $93 million, or 20 cents a share, on revenue of $561 million, exceeding the average estimate of analysts polled by
for earnings of 13 cents a share on revenue of $542.2 million.
Check out TheStreet's quote page for Brocade for year-to-date share performance, analyst ratings, earnings estimates and much more.
Other movers in late trades included
, whose stock surged 8.4% to $4.53 on volume of more than 115,000 after the company lifted its solar module shipment guidance for the fourth quarter to roughly 430 MW to 440 MW because of "stronger than expected demand from customers" and said it's "aggressively" reducing its manufacturing costs;
The Cheesecake Factory
, whose shares lost nearly 5% to $30 on volume of around 100,000 despite the restaurant operator beating Wall Street's profit expectations for its fiscal fourth-quarter results by a penny; and
( FIRE), whose stock jumped 13% to $40.50 on volume of around 40,000 after the Columbia, Md., cybersecurity technology developer posted adjusted earnings of $7.6 million, or 25 cents a share, for its fiscal fourth quarter on revenue of $53.2 million, blowing past the average analysts' view for a profit of 19 cents a share on revenue of $47 million.
Written by Michael Baron in New York.
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