Intuit Shares Rise After Earnings Beat

Intuit Inc. said late Thursday it earned $1.78 a share in the fiscal third quarter, down from $3.39 a share a year ago. Adjusted for one-time items, Intuit, a software company that develops tax-preparation software and related services, reported earnings of $2.85 a share, down from $3.53 a share a year ago. Revenue reached $2.19 billion in the quarter, compared with $2.39 billion a year ago. Analysts polled by FactSet had expected Intuit to report adjusted earnings of $2.75 a share on sales of $2.15 billion in the quarter. Shares of Intuit rose 1.2% in after-hours trading, after ending the regular session up 0.8%. "We delivered a strong quarter, exceeding our company financial revenue target amidst another strong tax season and accelerating growth in our small business online ecosystem," Brad Smith, Intuit's president and chief executive officer, said in a statement.