Intuit Inc (NASDAQ: NASDAQ:INTU) shares are trading higher in Tuesday's after-hours session after the company reported better-than-expected financial results.
Intuit said fiscal fourth-quarter revenue decreased 6% year-over-year to $2.4 billion, which beat average analyst estimates of $2.34 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.10 per share, which beat average analyst estimates of 98 cents per share.
"We had a very strong fourth quarter, ending the year with momentum. We're more confident than ever in our long-term business strategy as we power prosperity around the world," said Sasan Goodarzi, CEO of Intuit.
Intuit expects fiscal first-quarter revenue growth of approximately 23% to 25%. The company expects first-quarter earnings to be between $1.14 and $1.20 per share versus the estimate of $1.86 per share.
Intuit expects full-year 2023 revenue to be between $14.485 billion and $14.7 billion versus the estimate of $14.47 billion. The company expects full-year adjusted earnings to be between $13.59 and $13.89 per share versus the estimate of $13.81 per share.
INTU Price Action: Intuit has a 52-week high of $645.61 and a 52-week low of $339.36.
The stock was up 4.10% in after hours at $468.00 at press time.
Photo: Tony Webster from Flickr.
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