Financial technology company Intuit Inc. (NASDAQ: INTU) Tuesday reported an increase in fourth-quarter adjusted profit, aided by double-digit growth in revenue. The numbers also exceeded Wall Street’s estimates.
At $2.56 billion, fourth-quarter revenues were up 41% from the year-ago period and above experts’ projection. The topline benefitted from strong growth in the main operating segments.
Adjusted earnings increased to $1.97 per share from $1.81 per share in the fourth quarter of 2020 and came in above the consensus forecast. Net income, including one-off items, was $380 million or $1.37 per share, compared to $445 million or $1.68 per share last year.
Intuit’s shares traded higher on Tuesday and closed the session at a record high. They gained further in the after-hours, soon after the earnings announcement.
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