February 11, 2014 / 9:31 PM / 4 years ago

Intuit forecasts quarterly results below expectations

Feb 11 (Reuters) - 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 company noted.

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 Kerr)

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