Intuit Shares Rally On Surprise Earnings, Outlook

Intuit Inc. shares rallied in the extended session Thursday after the accounting software and services company reported a surprise adjusted profit for the fiscal first quarter. Intuit shares jumped 7.6% to $104.81. The company reported adjusted fiscal first-quarter earnings of 9 cents a share on revenue of $713 million. Analysts surveyed by FactSet had forecast a per-share loss of 4 cents on revenue of $670.9 million. Intuit raised its outlook for the year. The company expects adjusted earnings of $3.45 to $3.50 a share, while analysts expect $3.43 a share.