Feb 11 Intuit Inc, developer of
tax-preparation software TurboTax, forecast current-quarter
results below market estimates after a delay in the start of the
U.S. tax-filing season.
The date of the opening of the Internal Revenue Service's
e-file facility has varied over the years, but has increasingly
been delayed beyond mid-January, this year to Jan. 31, the
Intuit said it expected revenue of between $775 million and
$780 million for the second quarter, with adjusted earnings of
1-2 cents per share.
Analysts on average were expecting an adjusted profit of 26
cents per share on revenue of $900.5 million, according to
Thomson Reuters I/B/E/S.
Intuit shares fell to $71.50 in extended trading after
closing at $72.72 on the Nasdaq on Tuesday.
(Reporting by Aditi Shrivastava in Bangalore; Editing by Ted