Intuit Inc. Drops on Downside Guidance (INTU)

Shares of Intuit Inc. INTU are trading lower in the after-hours trade following the release of the company's Q3 earnings results. Currently, shares are lower by 3.40%, trading at $54.00; they closed the regular session higher by 2.98%, at $55.90. Intuit Inc. said that Q3 EPS was $2.33 on revenues of $1.85 billion; the Street was looking for $2.28 per share on revenues of $1.82 billion. Revenues increased 15.0% year over year. The company also issued downside guidance for Q4, saying it now sees EPS of $(0.02)-0.02; the Street was at $(0.01) per share. Intuit Inc. sees Q4 revenues of $567-587 million; the Street was at $587.20 million. "Across the company, our businesses continue to benefit from the secular shift from manual, paper-based methods to digital solutions," said Brad Smith, Intuit's president and chief executive officer. "Our high-margin core businesses are thriving.” "In a particularly competitive tax season, we finished with strong momentum, taking share and growing revenue per unit to achieve year-to-date consumer tax revenue growth of 13 percent. In small business, we now serve nearly 5 million unique customers.” Intuit Inc. is a provider of business and financial management solutions for small and medium-sized businesses, consumers, accounting professionals and financial institutions. Its products and services, including QuickBooks, Quicken and TurboTax, simplify small business management and payroll processing, personal finance, and tax preparation and filing.