By Kathryn Hardison


Intuit Inc. reported a loss in its fourth quarter as revenue fell because of an earlier tax filing deadline.

The tax preparation software maker swung to a loss of $56 million, or 20 cents a share, for the quarter that ended July 31, compared with a profit of $380 million, or $1.37 a share, a year ago. Adjusted earnings per share were $1.10, above analysts' expectations of 98 cents, according to FactSet.

Revenue fell 6% to $2.41 billion. Analysts expected $2.34 billion. The decline reflected an earlier tax filing deadline this year compared with 2021, which was partially offset by the addition of Mailchimp, the company said. In 2021, the Internal Revenue Service extended the deadline to May. This year, the deadline was April 18.

Revenue from its consumer group fell to $145 million from $852 million in the year prior, reflecting the earlier deadline.

Intuit said revenue from services in its small business and self-employed group grew 41% to $1.8 billion and revenue from its online ecosystem services grew 66%.

Credit Karma revenue also increased 17% to $475 million.


Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

08-23-22 1637ET