Intuit Profit Tops Estimates, Boosts Yearly Outlook

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The Mountain View, Calif-based said net profit rose to $444.2 million, or $1.33 per share, in its fiscal third quarter ended April 30, from $367.2 million, or $1.04 per share, in the year-ago period.

Net income rose 21 percent to $444.2 million, or $1.33 a share, from $367.2 million, or $1.04 a share, one year ago.

Excluding items, the company's income would have been $463.9 million, or $1.39 a share, compared to $397.6 million, or $1.13 a share.

Analysts expected, on average, earnings of $1.33 a share on $1.29 billion revenue.

The company's tax software competes with similar packages sold by H&R Block, which also produce tax-preparation services.

Looking ahead, the company raised its full-year 2008 revenue, operating income and earnings per share guidance. Intuit said it expects revenue of $3.05 billion to $3.06 billion, or growth of 14 percent; and earnings of $1.42 to $1.44, or growth of 15 percent to 16 percent.