TurboTax parent Intuit stock gains 5% after Q4 results

Thu, 22 Aug 2019 20:45:05 GMT

Shares of Intuit Inc. rose more than 5% in the extended session Thursday after the business software company reported a narrower-than-expected fiscal fourth quarter loss and sales beat expectations. Intuit said it lost $153 million, or 17 cents a share, in the quarter, compared with a loss of $200 million, or 15 cents a share, in the year-ago period. Adjusted for one-time items, Intuit lost 9 cents a share, compared with 1 cent a share a year ago. Sales rose 15% to $994 million. Analysts polled by FactSet had expected Intuit to report a fiscal fourth-quarter adjusted loss of 15 cents on sales of $961 million.

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