By Allison Prang

Intuit Inc.'s revenue rose more than expected but the company's costs rose, depressing operating and net income.

The parent of TurboTax said profit was $380 million, or $1.37 a share, compared with $445 million, or $1.68 a share a year earlier.

Adjusted earnings were $1.97 a share. According to FactSet, analysts were expecting $1.59 a share. The company was expecting adjusted earnings to be between $1.55 a share and $1.60 a share.

Net revenue rose 41% to $2.56 billion. Analysts were expecting $2.31 billion. Intuit had said it was expecting fourth-quarter revenue to rise between about 26% and 28%.

The company reported $2.16 billion in total costs and expenses which rose from $1.33 billion a year ago. Selling and marketing costs about doubled.

Intuit announced in December of last year that it had closed the deal to buy Credit Karma.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

08-24-21 1629ET