Ralph
22.11.2000, 07:38
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Intuit Meets First-Quarter Estimates
By Ilan Tsapovski
Editorial Assistant
11/21/00 5:50 PM ET
Intuit (INTU:Nasdaq - news) met estimates for the first quarter as the company's Quicken Loans mortgage business was profitable and revenue rose 6% from a year ago.
Intuit reported a loss for the quarter of $33.8 million, or 16 cents a share, which includes pretax losses on marketable securities and other investments of $3.9 million and the cumulative effects of changes in accounting for derivatives. Analysts expected the company to lose 16 cents a share for the quarter, according to First Call/Thomson Financial.
In the year-ago quarter, Intuit reported a loss of $65.9 million, or 33 cents a share, including $17.3 million in pretax losses on marketable securities and other investments.
Revenue for the quarter rose to $187.5 million from $176.9 million a year ago.
For the fiscal year, Intuit expects revenue growth of 22%, which translates into a range of $1.32 billion to $1.34 billion, and pro forma operating income of $202 million to $208 million. Wall Street expects the company to earn 81 cents a share for the year.
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Nachbörslich verliert der Wert 10% http://www.stock-channel.net/Board/smilies/frown.gif
Ralph
Intuit Meets First-Quarter Estimates
By Ilan Tsapovski
Editorial Assistant
11/21/00 5:50 PM ET
Intuit (INTU:Nasdaq - news) met estimates for the first quarter as the company's Quicken Loans mortgage business was profitable and revenue rose 6% from a year ago.
Intuit reported a loss for the quarter of $33.8 million, or 16 cents a share, which includes pretax losses on marketable securities and other investments of $3.9 million and the cumulative effects of changes in accounting for derivatives. Analysts expected the company to lose 16 cents a share for the quarter, according to First Call/Thomson Financial.
In the year-ago quarter, Intuit reported a loss of $65.9 million, or 33 cents a share, including $17.3 million in pretax losses on marketable securities and other investments.
Revenue for the quarter rose to $187.5 million from $176.9 million a year ago.
For the fiscal year, Intuit expects revenue growth of 22%, which translates into a range of $1.32 billion to $1.34 billion, and pro forma operating income of $202 million to $208 million. Wall Street expects the company to earn 81 cents a share for the year.
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Nachbörslich verliert der Wert 10% http://www.stock-channel.net/Board/smilies/frown.gif
Ralph