LONDON, UK / ACCESSWIRE / August 26, 2016 / Active Wall St. announces its post-earnings coverage on Intuit Inc. (NASDAQ: INTU). The company revealed its fourth quarter fiscal 2016 results on August 23rd, 2016. The maker of TurboTax and QuickBooks, posted better-than-expected results with 8% revenue growth; however the company issued tepid revenue guidance for the upcoming quarter. Register with us now for your free membership at: http://www.activewallst.com/register/.

Today, AWS is promoting its earnings coverage on INTU. Get our free coverage by signing up to http://www.activewallst.com/registration-3/?symbol=INTU.

Earnings Reviewed

For the period ended on July 31, 2016, Intuit posted net loss of $40 million, or $(0.16) per share, compared with net income of $14 million, or $0.05 per share, in the corresponding year ago quarter. Earnings excluding items were $0.08 per share, above Wall Street's expectations of a loss of $0.02 per share. Intuit generated revenue of $754 million in Q4 FY16 higher by 8.3% from $696 million in Q4 FY15, and above management's guided range of $720 million to $740 million.

For FY 2016, Intuit reported revenue of $4.7 billion, up 12%. The company announced that total QuickBooks Online subscribers jumped 41% to finish the year with 1,513,000 paid subscribers. Intuit's Consumer Tax revenue rose 10%, with TurboTax Online units growing 15% and total TurboTax units growing 12%. The company reported GAAP earnings per share of $3.69 for FY 2016, versus $1.28 in fiscal 2015.

"This was a strong year from start to finish," said Brad Smith, Intuit's chairman and chief executive officer, "Our tax businesses had another strong year, turning up the innovation machine to compete effectively in the marketplace."

Segment-wise

Intuit's Small Business division revenue increased 10% for the quarter and 9% for the year, driven mainly by strong customer acquisition, along with continuous subscriber growth for QuickBooks Online and QuickBooks Self-Employed. QuickBooks Self-Employed subscribers totaled 85,000 at the year end. Furthermore, revenues from the Small Business online ecosystem increased 25% for the year, primarily due to online customer acquisition and online payroll customers grew 17% for the year. Revenues from Intuit's Consumer Tax unit grew 10% on y-o-y basis. The company's ProConnect generated professional tax revenues of $428 million for the year.

The company typically collects the bulk of its earnings during tax season and often posts losses in its off-tax-season quarters.

In order to focus on its main tax and small-business units Intuit sold marketing and communications software business Demandforce to Internet Brands in January 2016; collaboration platform QuickBase to Welsh, Carson, Anderson & Stowe a New York-based private equity firm; and Quicken to HIG capital in March 2016.

Financials

As of July 31st, 2016 Intuit had cash and cash equivalents of $638 million compared to $808 million in the year ago quarter. The company's long-term debt was $488 million at the quarter end, down $12 million from the year ago quarter.

During FY 2016, Intuit repurchased $2.3 billion of shares at an average price of $91. The company also received board approvals for an additional share repurchase authorization of $2 billion, bringing the total authorization to $2.4 billion.

Intuit also announced its board approval for a $0.34 per share dividend for Q1 FY17, payable on October 18, 2016. This represents a 13% increase versus last year.

Outlook

For FY 2016, Intuit is forecasting adjusted earnings in the range of $4.30 per share to $4.40 per share on revenue of $5 billion to $5.1 billion. Analysts estimate adjusted earnings of $4.33 per share on revenue of $5.08 billion. For Q1 FY17, the company is estimating revenues in the range of $740 million to $760 million and adjusted earnings in the range of $0.1 per share to $0.3 per share.

Stock Performance

Intuit's shares closed marginally higher by 0.14%, ending the trading session at $110.00 on August 25, 2016. A total of 1.55 million shares exchanged hands on the trading session. The company's share price has gained 14.98% on YTD basis and has advanced 33.65% in the last twelve months.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com

Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street