Intuit Misses, Q4 Sales Up 14 Percent To $651M

Next Story

Online Banking Startup Simple Unveils Goals, To Help Users Save Up For Whatever

Intuit reported fourth-quarter earnings today, with Q4 revenue increasing by 14 percent to $651 million. The company missed analyst expectations, with $0.03 in Non-GAAP earnings. Analysts expected $0.06 cents a share on revenue of $652.6 million. Net income came in at $4 million for the quarter.

“Fiscal 2012 was another strong year for Intuit, with 10 percent revenue growth and earnings per share growth of 16 percent,” said Brad Smith, Intuit’s president and chief executive officer. “Our results and our outlook reflect the steady strength of our core businesses and Intuit’s resilience in the choppy macroeconomic environment.

For the fiscal year 2012, Intuit increased revenue by 10 percent, to $4.15 billion. Intuit, which offers a Square-competitor GoPayment, says that payments revenue was up by 31 percent for the quarter, driven by fee structure changes, higher card transaction volume and strong merchant growth. GoPayment fueled merchant customer growth of 13 percent for the year, says the company.

Intuit also announced on August 15 that it will be selling its unit, Intuit Websites to Endurance International Group. Although terms were not disclosed, Intuit Websites contributed $76 million in revenue in 2012. For the first quarter 2013, Intuit expects revenue of $630 million to $640 million, and Non-GAAP net loss per share of $0.06 to $0.07.