Intuit (INTU) Updates on Tax Season Results; Cuts Q3, FY13 Expectations
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Price: $367.00 +1.42%
Revenue Growth %: +12.6%
Financial Fact:
Cost of service and other revenue: 151M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Revenue Growth %: +12.6%
Financial Fact:
Cost of service and other revenue: 151M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Intuit Inc. (Nasdaq: INTU) today issued its third and final season-to-date update for its consumer tax offerings. Intuit expects approximately 4 percent revenue growth in TurboTax for the 2013 fiscal year. As a result, the company updated third-quarter and full-year guidance.
Through April 16, sales of TurboTax Online units increased 6 percent versus the comparable prior-year period. Total TurboTax federal units were up 3 percent. As of April 12, Internal Revenue Service returns received were down 2 percent compared to last year.
For the third quarter of fiscal 2013 which ends April 30, Intuit now expects:
* Revenue of $2.165 billion to $2.175 billion, versus previous guidance of $2.215 billion to $2.275 billion. The Street sees revs of $2.25 billion.
* GAAP operating income of $1.265 billion to $1.275 billion, versus previous guidance of $1.290 billion to $1.315 billion.
* Non-GAAP operating income of $1.325 billion to $1.335 billion, versus previous guidance of $1.350 billion to $1.375 billion.
* GAAP diluted EPS of $2.79 to $2.81, versus previous guidance of $2.83 to $2.88.
* Non-GAAP diluted EPS of $2.92 to $2.94, versus previous guidance of $2.99 to $3.04. The Street sees EPS of $3.01.
Intuit also revised revenue, operating income, and earnings per share guidance for the total company for fiscal 2013, which ends July 31:
* Revenue of $4.495 billion to $4.520 billion, versus previous guidance of $4.550 billion to $4.650 billion. The Street sees $4.59 billion.
* GAAP operating income of $1.26 billion to $1.28 billion, versus previous guidance of $1.315 billion to $1.345 billion.
* Non-GAAP operating income of $1.51 billion to $1.53 billion, versus previous guidance of $1.57 billion to $1.60 billion.
* GAAP diluted EPS of $2.90 to $2.94, versus previous guidance of $2.96 to $3.02.
* Non-GAAP diluted EPS of $3.31 to $3.35, versus previous guidance of $3.40 to $3.46. The Street sees EPS of $3.44.
Intuit will announce its third-quarter results for fiscal year 2013 on May 21 following the close of market.
Through April 16, sales of TurboTax Online units increased 6 percent versus the comparable prior-year period. Total TurboTax federal units were up 3 percent. As of April 12, Internal Revenue Service returns received were down 2 percent compared to last year.
For the third quarter of fiscal 2013 which ends April 30, Intuit now expects:
* Revenue of $2.165 billion to $2.175 billion, versus previous guidance of $2.215 billion to $2.275 billion. The Street sees revs of $2.25 billion.
* GAAP operating income of $1.265 billion to $1.275 billion, versus previous guidance of $1.290 billion to $1.315 billion.
* Non-GAAP operating income of $1.325 billion to $1.335 billion, versus previous guidance of $1.350 billion to $1.375 billion.
* GAAP diluted EPS of $2.79 to $2.81, versus previous guidance of $2.83 to $2.88.
* Non-GAAP diluted EPS of $2.92 to $2.94, versus previous guidance of $2.99 to $3.04. The Street sees EPS of $3.01.
Intuit also revised revenue, operating income, and earnings per share guidance for the total company for fiscal 2013, which ends July 31:
* Revenue of $4.495 billion to $4.520 billion, versus previous guidance of $4.550 billion to $4.650 billion. The Street sees $4.59 billion.
* GAAP operating income of $1.26 billion to $1.28 billion, versus previous guidance of $1.315 billion to $1.345 billion.
* Non-GAAP operating income of $1.51 billion to $1.53 billion, versus previous guidance of $1.57 billion to $1.60 billion.
* GAAP diluted EPS of $2.90 to $2.94, versus previous guidance of $2.96 to $3.02.
* Non-GAAP diluted EPS of $3.31 to $3.35, versus previous guidance of $3.40 to $3.46. The Street sees EPS of $3.44.
Intuit will announce its third-quarter results for fiscal year 2013 on May 21 following the close of market.
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