Payroll solutions provider Intuit Inc. (NASDAQ: INTU) said its revenues for the fourth quarter rose 15% to $994 million, surpassing analysts’ projection of $961.9 million. Online Ecosystem revenue jumped 35% during the quarter.
Meanwhile, the company posted a loss of 9 cents per share in Q4, compared to a loss of 1 cent per share a year ago. This was narrower than analysts’ projection of 14 cents per share loss.
Intuit shares gained 5.5% immediately following the announcement. INTU stock has rallied 42% so far this year
CEO Sasan Goodarzi said, “Our business continued its strong momentum in the fourth quarter, resulting in full-year revenue growth of 13%, exceeding our original guidance of 8 to 10 percent growth.”
For the full year, Intuit’s QuickBooks Online subscriber base grew 25% in the US and 58% outside the US.
For the first quarter of 2020, the Mountain View, California-based company expects revenues of $1.105 billion to $1.125 billion, up 9-11%. Adjusted EPS is expected to be $0.23 to $0.25.
For the full year, Intuit anticipates revenue of $7.440 billion to $7.540 billion and adjusted EPS of $7.50 to $7.60.
Yesterday, software company Splunk (NASDAQ: SPLK) said its revenues rose 33% in the second quarter to $517 million, driven by the strong demand for its software that helps firms analyze internal data. The San Francisco, California-based big data firm reported earnings of 30 cents per share, compared to 8 cents per share a year ago.
Earlier we looked into how, during the COVID-19 pandemic, retailers saw changing trends in terms of their assortments and how the acceleration of online shopping led many of them to
Data is at the heart of business innovation. Recognizing this trend, companies are seeking ways to transform their businesses by capturing, analyzing, and mobilizing data. The public cloud is becoming
The second half has been highly rewarding for design software maker Adobe Inc. (NASDAQ: ADBE) amid stable demand for digital content solutions. The company has remained unaffected by the virus-related