Intuit (INTU) issues guidance following U.S. tax season, stock falls

NASDAQ: INTU | Intuit Inc. News, Ratings, and Charts

INTU – Intuit Inc. INTU, -5.25% stock fell roughly 5% in after-hours trading Thursday.

Intuit Inc. INTU, -5.25% stock fell roughly 5% in after-hours trading Thursday after the company issued guidance following U.S. tax season. Intuit said it now expects fiscal full-year revenue for its consumer group, which includes several of its popular tax preparation software products, to grow about 10%, which is the high end of its previous range of 9% to 10% growth. TurboTax online unit sales increased 7%, while its desktop offering dropped 3% resulting in overall growth of 5% for TurboTax units, the company said. Intuit is set to report fiscal third-quarter results May 23. Intuit stock has gained 50% in the past year, as the S&P 500 indexSPX, -0.04% rose 10.9%.


Intuit Inc. shares fell $13.84 (-5.25%) in after-hours trading Thursday. Year-to-date, INTU has gained 34.58%, versus a 17.09% rise in the benchmark S&P 500 index during the same period.

INTU currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #5 of 39 stocks in the Consumer Financial Services category.


This article is brought to you courtesy of MarketWatch.

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