Intuit's First Quarter Earnings Report

Intuit (Nasdaq:INTU) announced its results for the most recent quarter on November 15, 2012. Intuit provides business and financial management solutions for businesses, consumers, accounting professionals and financial institutions.

Earnings season is important to investors because it shows how much profit is left in the company's hand after deducting costs from revenue. SEE: How To Decode A Company's Earnings Reports

The Numbers: Intuit's EPS outpaced analyst estimates while the company's revenues came in below predictions. The company reported an adjusted net loss of 3 cents per share versus the loss of 17 cents per share estimate and revenues of $647 million versus the $1.96 billion estimate. Intuit's net loss for the first quarter narrowed to $19 million. The company lost $64 million during the same quarter last year. The company's loss in the latest quarter comes after the company reported profits in the three prior quarters.



Management Quote: "We're off to a strong start in fiscal year 2013. We grew first-quarter revenue 12 percent, and we're reiterating our guidance of double-digit top-line and bottom-line growth for the full fiscal year," said Brad Smith, Intuit's president and chief executive officer. "While we're not completely insulated from the challenges of the macro-environment, we have proven to be resilient, and we continue to execute against principles that guide us through tough times. We also refreshed our connected services strategy to capitalize on structural shifts occurring in the market that will serve as growth catalysts. Our mobile products are contributing meaningful growth, with around half of our mobile customers new to the franchise, which is expanding our market reach and our category growth. Looking ahead, we're building on a strong foundation while reimagining our products to capitalize on a rapidly changing environment. With big market opportunities in front of us, and the tailwind of technology adoption at our backs, we expect to deliver strong results for quarters and years to come," Smith said.



Looking Ahead: Analysts appear increasingly optimistic about the company's results for the next quarter. The average estimate for the second quarter has moved up from 49 cents a share to 50 cents over the last 30 days. Increasing earnings estimate is a positive sign about the company and it typically leads a increase in the stock price. At $2.95 per share, the average estimate for the fiscal year has fallen from $2.98 90 days ago.