MOUNTAIN VIEW, Calif. (AP) _ Intuit Inc. (INTU) on Tuesday reported fiscal fourth-quarter net income of $445 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Mountain View, California-based company said it had net income of $1.68. Earnings, adjusted for one-time gains and costs, came to $1.81 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The maker of TurboTax, QuickBooks and other accounting software posted revenue of $1.82 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.57 billion.
For the year, the company reported profit of $1.83 billion, or $6.92 per share. Revenue was reported as $7.68 billion.
Intuit shares have risen 28% since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 7%. In the final minutes of trading on Tuesday, shares hit $336.42, a rise of 19% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INTU at https://www.zacks.com/ap/INTU
Automated Insights, source Associated Press News