Intuit Inc. Q2 Profit Increases, but misses estimates

(RTTNews) - Intuit Inc. (INTU) released earnings for its second quarter that increased from the same period last year but missed the Street estimates.

The company's bottom line came in at $100 million, or $0.35 per share. This compares with $20 million, or $0.07 per share, in last year's second quarter.

Excluding items, Intuit Inc. reported adjusted earnings of $446 million or $1.55 per share for the period.

Analysts on average had expected the company to earn $1.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 69.0% to $2.67 billion from $1.58 billion last year.

Intuit Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $100 Mln. vs. $20 Mln. last year. -EPS (Q2): $0.35 vs. $0.07 last year. -Analyst Estimate: $1.85 -Revenue (Q2): $2.67 Bln vs. $1.58 Bln last year.

-Guidance: Next quarter EPS guidance: $7.51 to $7.57. Full year EPS guidance: $11.48 to $11.64 Full year revenue guidance: $12.165 - $12.30 Bln