SAN FRANCISCO - Intuit (INTU) - Get Intuit Inc. (INTU) Report beat analysts earnings estimates for its seasonally strongest third quarter, which included the tax season, and issued in-line fourth-quarter guidance.
The Mountain View, Calif., developer of TurboTax software said revenue grew 15% to $1.31 billion, from $1.14 billion in the same quarter of last year. Analysts were expecting $1.29 billion, according to Thomson Reuters.
Net income rose 21% to $444.2 million, or $1.33 a share, from $367.2 million, or $1.04 a share, one year ago.
Excluding special items, EPS was $1.39. Analysts were looking for $1.33.
The stock was up $1.47, or 5.4%, to $28.68 in after-hours trading.
Consumer tax software was up 16% year over year to $657 million.
Intuit said full-year revenue would total $3.05 billion to $3.06 billion, implying fourth-quarter revenue ranging from $457 million to $467 million. Full-year EPS, excluding items, will be $1.61 to $1.63, implying a fourth-quarter loss of 3 cents to 5 cents a share. Analysts were projecting revenue of $471.7 million and a loss of 4 cents a share, excluding special items.
Intuit's tax software competes with similar packages sold by
, which focuses on tax-preparation services.
Also in the software sector,
reports earnings Wednesday after the bell.