Intuit Inc. (NASDAQ:INTU) stock was down in early deals, losing 1.8% to $489.36, after delivering a first quarter revenue projection at the lower end of analysts' estimates.
In Thursday’s after-hours, the bookkeeping software firm reported a 12% year-on-year increase in revenue for its fiscal fourth quarter, reaching $2.71 billion, and adjusted earnings of $1.66 per share, both surpassing Street expectations.
Wall Street expectations were pitched at $2.64 billion and $1.43 per share, respectively.
However, its fiscal first quarter revenue projection of $2.6 billion to $2.88 billion fell at the low end of analysts’ $2.88 billion consensus estimate.
“We had a very strong fourth quarter, ending the year with momentum, as we executed on our strategy to be the global AI-driven expert platform powering prosperity for consumers and small businesses,” CEO Sasan Goodarzi said in a statement.