Intuit Rises on Strong Q3 Results – Analyst Blog
Zacks Market Commentaries (May 21st, 2009) Writes:
Intuit Inc.: Shares Climb on Strong Q3 ResultsShares of Intuit Inc. (INTU, Hold) are up over 8% in trading so far today, bucking the trend of steep decline in the broader markets. The company posted an EPS beat in the traditionally strong Q3 and narrowed its guidance range going forward, indicating better visibility into Q4.Q3 revenue upside was driven by better-than-expected results in QuickBooks, Accounting Professionals, FI's, and Other Businesses, offsetting weakness in the Consumer Tax segment. The non-GAAP EPS beat was mainly attributable to higher gross margins and effective cost-control measures.Intuit offers small business accounting, personal finance and tax preparation software for accountants, small businesses and consumers. Q3 non-GAAP EPS of $1.68 came widely ahead of our $1.58 estimate (consensus was at $1.61), while revenues of $1.434 billion also came ahead of our $1.1420 billion estimate.FY2009 guidance range was ...


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