By Denny Jacob


Intuit Inc. updated its fiscal 2022 guidance following strong top- and bottom-line results in the third quarter.

The tax preparation software maker said its updated guidance includes the one-time $141 million charge related to its settlement with 50 state attorneys general and the District of Columbia.

The company guided for revenue between $12.63 billion and $12.67 billion, up from its prior guidance of revenue between $12.17 billion and $12.3 billion. It forecasts adjusted earnings a share between $11.68 and $11.74, up from its prior range set between $11.48 and $11.64.

For the fourth quarter, Intuit said it expects revenue to decline about 8% to 9% due to the earlier tax filing deadline this year compared to last year. The company expects adjusted earnings per share between 94 cents and $1.

Intuit logged net income of $1.79 billion, or $6.28 a share, for the third quarter ended April 30, compared with net income of $1.46 billion, or $5.30 a share, in the year-ago period. Adjusted earnings a share were $7.65, above analysts' expectations of $7.54.

Revenue rose to $5.63 billion from $4.17 billion. Analysts polled by FactSet expected $5.51 billion.

Shares rose 3.6% to $371.79 in late trading Tuesday.


Write to Denny Jacob at denny.jacob@wsj.com


(END) Dow Jones Newswires

05-24-22 1658ET