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Intuit's 3Q Profit, Sales Rise

By Kimberly Chin

 

Intuit Inc.'s profit rose in the fiscal third quarter as sales jumped 39% driven by a boost from the tax filing season and stronger growth across its segments.

The maker of financial management tools TurboTax, QuickBooks and Mint recorded a quarterly profit of $1.46 billion, for the period ended April 30, compared with $1.08 billion in the same period last year. Earnings were $5.30 a share, up from $4.11 a share a year earlier.

On an adjusted basis, Intuit posted earnings of $6.07 a share, missing analysts' consensus expectations of $6.47 an adjusted share, according to a FactSet poll.

Total net revenue increased to $4.17 billion from $3 billion a year ago. Analysts were targeting $4.39 billion in revenue.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

May 25, 2021 16:32 ET (20:32 GMT)

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