Intuit reports mixed bag on Q4 earnings; divestitures on deck

Wall Street expected a loss of 12 cents per share, with revenues of $738.9 million.

Intuit published its fourth quarter and full year financial results Thursday after the bell.

The tax and accounting software company reported fourth quarter loss of $130 million, and earnings of 5 cents per share (statement). Non-GAAP earnings saw a loss of 5 cents per share on revenue of $696 million.

Wall Street was expecting a loss of 12 cents per share on revenue of $738.9 million. The company scored a win on earnings, but fell short on revenue.

For the full year, the company reported $4.19 billion in revenue.

At the end of the fourth quarter, Intuit had about $1.7 billion of cash and investments.

Intuit chief executive Brad Smith announced the company will divest Demandforce, QuickBase, and Quicken. That will see Intuit's revenue chopped by about $250 million, with earnings per share down by about 10 cents, for the 2016 fiscal year.

Smith added in prepared remarks:

"We closed out our fiscal year 2015 on a strong note, with excellent momentum in each of our core businesses as we continue to see the benefits of our ongoing transformation into a global cloud company."

As for its business units, the company said TurboTax Online units for the US were up 11 percent, and total TurboTax units grew 7 percent.

As for QuickBooks Online users, subscribers were up by 57 percent for the full year.

For the current quarter, the company said it expects revenue growth by as much as 11 percent, totaling around $660 to $680 million for the three-month period.

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