MOUNTAIN VIEW, CALIF. (AP) - Finance software maker Intuit Inc. reported fiscal fourth-quarter results Thursday ahead of analyst estimates and predicted results for the first quarter and fiscal 2011 year will also beat Wall Street expectations.
Intuit shares rose $2.23, or 5.8 percent, to $41 in after-hours trading, having finished regular trading down 58 cents at $38.77.
For the May-July quarter, Intuit reported a loss of $48 million, or 15 cents per share, compared with a loss of $71 million, or 22 cents per share, in the year-ago quarter.
Revenue climbed 18 percent to $537 million, beating analyst predictions for $500.7 million.
The company also said that personal finance management site Mint.com ended the quarter with over 3 million users.
Looking ahead, Intuit predicted a first-quarter loss of 23 cents to 25 cents per share, or 11 cents to 13 cents on an adjusted basis, on revenue of $515 million to $525 million.
Analysts expect an adjusted loss of 11 cents per share on $519.5 million in revenue.
For the full fiscal year, the company predicted a profit of $1.88 to $1.95 per share, or $2.36 to $2.43 per share on an adjusted basis, on revenue of $3.74 billion to $3.84 billion.
Analysts expect an adjusted profit of $2.31 per share on $3.72 billion in revenue.
Also Thursday, Intuit announced that it authorized a new $2 billion stock buyback plan that will run through August 2013. Its last stock buyback plan ended in the fourth quarter; Intuit repurchased $900 million in stock during the fiscal year.
By Elaine Donnelly
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