* Sees Q3 revenue $2.22-$2.28 bln vs est $2.24 bln
* Sees Q3 adjusted profit of $2.99-$3.04 vs est $2.94
* Q2 adjusted profit of $0.33/shr vs est profit of $0.30
* Revenue down 3 pct at $968 mln vs est $963.2 mln
Feb 21 Intuit Inc, the maker of
tax-preparation software TurboTax, forecast current-quarter
results ahead of analyst estimates, helped by higher demand at
the unit that offers tax services to small businesses.
The company, which currently earns 95 percent of its revenue
from the United States, is looking to expand globally through
its connected services such as QuickBooks small-business
accounting software and mobile offerings such as SnapTax, Chief
Financial Officer Neil Williams told Reuters.
Intuit, which competes with shop-front tax preparer H&R
Block Inc, expects to earn $2.99 cents to $3.04 cents
per share and revenue in the range of $2.22 to $2.28 billion in
the third quarter.
Analysts were looking for earnings of $2.94 per share on
revenue of $2.24 billion, according to Thomson Reuters I/B/E/S.
Intuit expects about $140 million of tax revenue from the
second quarter to shift to the current quarter after the U.S.
Internal Revenue Service pushed back the opening of its
electronic filing service and the government delayed passage of
Intuit generates most of its profit in its fiscal second and
third quarters, when U.S. consumers are more likely to buy its
software in the lead-up to the tax season. Its fourth and first
quarter are seasonally weak as it is the tax filing off-season.
The company posted a profit of $93 million, or 23 cents per
share, in the second quarter, from a profit of $195 million, or
39 cents per share, a year earlier.
Excluding exceptional items, it earned 33 cents per share,
ahead of Wall Street estimates by 3 cents.
For the three months ended Jan. 31, its revenue fell 3
percent to $968 million, above analysts estimates of $963.2
The shares of the Mountain View, California-based company
closed at $61.30 on Thursday on the Nasdaq.