Intuit: EPS Beat Boosts Stock – Analyst Blog
Zacks Market Commentaries (February 20th, 2009) Writes:
Intuit Inc. (INTU, Hold) issued its fiscal Q209 results yesterday after the bell. Although year-over-year comparisons were negative, both for revenue and EPS, the company beat both our and consensus expectations by a comfortable margin. Q3 and full-year guidance was also softened considerably, particularly at the bottom line, reflecting the management’s concern of the softening economic environment. Nevertheless, the stock traded up sharply after the market close yesterday and is up nearly 12% so far today.The tax preparation software maker’s EPS beat came mainly from tight cost control, although operating income as a percentage of revenues fell nearly 5.2% on a year-over-year basis. Part of this decline was attributed to a deference of approx. $70 million of revenue from its top-selling TurboTax tax-preparation software to the 3rd quarter because of a change in the way it priced the product. Without the change in revenue timing, non-GAAP …


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