Intuit Trounces Earnings Estimates - TheStreet

Intuit Trounces Earnings Estimates

Revenue grows 15%.
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SAN FRANCISCO - Intuit (INTU) - Get 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

H&R Block

(HRB) - Get Report

, which focuses on tax-preparation services.

Also in the software sector,

Salesforce.com

(CRM) - Get Report

reports earnings Wednesday after the bell.