Intuit Rises on Q4 Earnings Results

Shares of Intuit INTU are trading higher in the after-hours following the release of the company's Q4 earnings results. Currently, shares are higher by 4.22%, trading at $42.00; they ended the regular session lower by 4.91%, at $40.30. Intuit reported Q4 EPS of $0.02 on revenues of $593 billion. Revenues increased 10.4% year over year. Financial Management Solutions revenue grew 12 percent for the quarter and 15 percent for the year, while Employee Management Solutions revenue grew 5 percent for the quarter and 10 percent for the year. "We had a strong fourth quarter and a great fiscal year, building on tough year-over-year comparisons of double-digit revenue growth in fiscal 2010," said Brad Smith, Intuit's president and chief executive officer. "Our results continue to demonstrate that our strategy is working and our execution is on track. Our core businesses, Consumer Tax and Small Business, which represent the majority of our revenue and operating income, both posted double-digit growth in fiscal year 2011. Intuit Inc. is a provider of business and financial management solutions for small and medium-sized businesses, consumers, accounting professionals and financial institutions.