Intuit Inc. Raises FY 2012 Earnings Guidance; Reaffirms FY 2012 Revenue Guidance; Issues Q3 2012 Guidance In Line With Analysts' Estimates; Reaffirms Q4 2012 EPS Guidance

Intuit Inc. reiterated fiscal 2012 guidance for revenue and raised operating income and EPS guidance for fiscal 2012. For fiscal 2012, it expects revenue of $4.185 billion to $4.285 billion, GAAP operating income of $1.19 billion to $1.215 billion, Non-GAAP operating income of $1.405 billion to $1.43 billion, GAAP diluted EPS of $2.43 to $2.50, and Non-GAAP diluted EPS of $2.90 to $2.97. For the third quarter of 2012, it expects revenue of $1.95 billion to $1.99 billion, GAAP operating income of $1.095 billion to $1.125 billion, Non-GAAP operating income of $1.14 billion to $1.17 billion, GAAP diluted EPS of $2.36 to $2.40 and Non-GAAP diluted EPS of $2.47 to $2.51. The Company reiterated the EPS guidance ranges for the fourth quarter of 2012 which it provided last quarter and expects GAAP basic and diluted loss per share of $0.02 to $0.04 and Non-GAAP diluted EPS of $0.06 to $0.08. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $4.23 billion, operating profit of $1.39 billion and EPS of $2.92 for fiscal 2012; revenues of $1.98 billion, operating profit of $1.16 billion and EPS of $2.49 for the third quarter of 2012; EPS of $0.07 for the fourth quarter of 2012.