Key Developments: Intuit Inc (INTU.O)
60.63USD
17 May 2013
$0.78 (+1.30%)
$59.85
$59.96
$60.83
$59.47
2,247,696
2,449,240
$68.41
$53.38
Latest Key Developments (Source: Significant Developments)
Intuit Inc Lowers Q3, FY 2013 Guidance
Intuit Inc expects approximately 4% revenue growth in TurboTax for fiscal 2013. As a result, the Company updated third-quarter 2013 and fiscal 2013 guidance. For the third quarter of 2013, Intuit now expects: Revenue of $2.165 billion to $2.175 billion, versus previous guidance of $2.215 billion to $2.275 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; and Non-GAAP diluted EPS of $2.92 to $2.94, versus previous guidance of $2.99 to $3.04. Intuit also revised revenue, operating income, and earnings per share guidance for the total Company for fiscal 2013: Revenue of $4.495 billion to $4.520 billion, versus previous guidance of $4.550 billion to $4.650 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; and Non-GAAP diluted EPS of $3.31 to $3.35, versus previous guidance of $3.40 to $3.46. Full Article
Apple Inc, Google Inc Won't Face Poaching Class Action Suit, Yet And Defendants Includes Adobe Systems Inc, Intel Corp, Intuit Inc, And Walt Disney Co's Lucasfilm Ltd-Reuters
Reuters reported that a U.S. judge ruled that a lawsuit alleging a broad conspiracy among Silicon Valley companies not to poach each other's employees cannot proceed as a class action for now, but left the door open for workers to eventually sue as a group. In a decision released on Friday, U.S. District Judge Lucy Koh in San Jose, California said the five software engineers suing Apple Inc, Google Inc and five other companies have yet to show enough in common among the proposed class members to allow them to sue together. But in deciding to give the plaintiffs another chance, the federal judge said she was 'keenly aware' new evidence had recently become available that could support class certification. She also said the nature of the 'alleged overarching conspiracy' and desire to litigate it all at once weighed 'heavily' in favor of certifying a class, which the plaintiffs' lawyers have said could include tens of thousands of people. If the plaintiffs win class certification, then they would have more leverage to extract large financial settlements than if they were to sue individually. Other defendants in the case include Adobe Systems Inc, Intel Corp, Intuit Inc, and Walt Disney Co's Lucasfilm Ltd and Pixar units. The defendants were accused of violating the Sherman Act and Clayton Act antitrust laws by conspiring to eliminate competition for labor, depriving workers of job mobility and hundreds of millions of dollars of compensation. Full Article
Intuit Inc Reaffirms FY 2013 Guidance; Raises FY 2013 EPS Guidance; Raises Q3 2013 Guidance
Intuit Inc announced that for fiscal 2013, it expects revenue of $4.55-$4.65 billion, GAAP operating income of $1.315-$1.345 billion, non-GAAP operating income of $1.57-$1.60 billion, GAAP diluted EPS of $2.96-$3.02 and non-GAAP diluted EPS of $3.40-$3.46. For third quarter of 2013, it expects revenue of $2.215-$2.275 billion, GAAP operating income of $1.290 billion to $1.315 billion, GAAP diluted earnings per share of $2.83-$2.88 and non-GAAP diluted EPS of $2.99-$3.04. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.59 billion for fiscal 2013. Full Article
Intuit Inc Announces Quarterly Cash Dividend
Intuit Inc announced that Board of Directors approved a new quarterly cash dividend of $0.17 to be paid on April 18 to shareholders of record as of the close of business on April 10. Full Article
Intuit Inc Lowers Q2 2013 Guidance
Intuit Inc announced that for second quarter of 2013, it expects revenue of $960-$965 million, GAAP operating income of $85-$90 million, non-GAAP operating income of $145-$150 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.03 billion and EBIT of $204.9 million for second quarter of 2013. Full Article
Intuit Inc Reaffirms FY 2013 Guidance; Issues Q2 2013 Outlook Below Analysts' Estimates; Issues Q3 2013 Outlook; EPS Outlook Above Analysts' Estimates; Issues Q4 Outlook Above Analysts' Estimates
Intuit Inc announced that for fiscal 2013, it expects revenue of $4.55-$4.65 billion, GAAP operating income of $1.315-$1.345 billion, non-GAAP operating income of $1.57-$1.60 billion, GAAP diluted EPS of $2.76-$2.82 and non-GAAP diluted EPS of $3.32-$3.38. For second quarter of 2013, it expects revenue of $1.02-$1.04 billion, GAAP operating income of $130-$150 million, non-GAAP operating income of $190-$210 million, GAAP diluted earnings per share of $0.27-$0.30 and non-GAAP diluted EPS of $0.40-$0.43. For third quarter of 2013, it expects revenue of $2.155-$2.215 billion, GAAP diluted earnings per share of $2.65-$2.70 and non-GAAP diluted EPS of $2.78-$2.83. For fourth quarter of 2013, it expects revenue of $728-748 million, GAAP loss per share of $0.01 to GAAP diluted EPS of $0.01 and Non-GAAP diluted EPS of $0.12 to $0.14. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.59 billion, EBIT of $1.58 billion and EPS of $3.36 for fiscal 2013; revenue of $1.05 billion, EBIT of $281.2 million and EPS of $0.59 for second quarter of 2013; revenue of $2.17 billion, and EPS of $2.75 for third quarter of 2013; revenue of $726.6 million, and EPS of $0.07 for fourth quarter of 2013 Full Article
Intuit Inc Reaffirms FY 2013 Guidance; Issues Q1 2013 Guidance; Revenue Guidance In Line With Analysts' Estimates
Intuit Inc reaffirmed guidance for fiscal 2013 and expects revenue of $4.55 billion to $4.65 billion, GAAP operating income of $1.315 billion to $1.345 billion, Non-GAAP operating income of $1.57 billion to $1.60 billion, GAAP diluted EPS of $2.76 to $2.82 and Non-GAAP diluted EPS of $3.32 to $3.38. For the first quarter of 2013, it expects revenue of $630 million to $640 million, GAAP operating loss of $85 million to $90 million, Non-GAAP operating loss of $20 million to $25 million, GAAP net loss per share of $0.20 to $0.21 and Non-GAAP net loss per share of $0.06 to $0.07. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $4.59 billion, operating profit of $1.57 billion and EPS of $3.36 for fiscal 2013; revenue of $639 million for the first quarter of 2013. Full Article
Intuit Inc Issues FY 2013 Guidance
Intuit Inc announced that for fiscal 2013, it expects Revenue of $4.55 billion to $4.65 billion, GAAP operating income of $1.315 billion to $1.345 billion, Non-GAAP operating income of $1.57 billion to $1.60 billion, GAAP diluted EPS of $2.76 to $2.82 and Non-GAAP diluted EPS of $3.32 to $3.38. Full Article
Intuit Inc Increases Quarterly Cash Dividend
Intuit Inc Announced a 13% increase in the quarterly cash dividend, from $0.15 per share to $0.17 per share, to be paid October 18, 2012. The Board of Directors approved a new quarterly cash dividend of $0.17 per share to be paid on October18, 2012 to shareholders of record as of the close of business on October10, 2012. Full Article
Endurance International Group To Purchase Intuit Inc Websites Business
Intuit Inc announced that it has entered into a definitive agreement to sell Intuit Websites to Endurance International Group. The transaction is expected to close during Intuit`s first quarter of fiscal year 2013. Terms of the agreement were not disclosed. Full Article
Kabbage teams up with Intuit to expand its financing business
SAN FRANCISCO, May 14 - Kabbage, a start-up that specializes in financing for small online merchants, has teamed up with Intuit Inc to expand its service to bricks-and-mortar businesses.
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