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Intuit posts fiscal Q4 net loss, issues fiscal 2020 guidance

Intuit Inc. reported a non-GAAP net loss for the fiscal fourth quarter of $23 million, or a loss of 9 cents per share, compared with a net loss of $3 million, or a loss of 1 cent per share, a year ago.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was a loss of 14 cents.

The banking technology company posted a GAAP net loss for the quarter of $44 million, or a loss of 17 cents per share, compared with a net loss of $38 million, or a loss of 15 cents per share, a year earlier.

For fiscal 2019, the company posted net income of $1.56 billion, or $5.89 per share, up from $1.33 billion, or $5.09 per share, in fiscal 2018. Non-GAAP net income was $1.78 billion, or $6.75 per share, for fiscal 2019, up from $1.51 billion, or $5.78 per share, in the prior fiscal year. The S&P Global Market Intelligence consensus normalized EPS estimate for fiscal 2019 was $6.69.

The company also provided guidance for the first quarter and fiscal year 2020.

First quarter non-GAAP EPS is expected to be between 23 cents and 25 cents, and full year non-GAAP EPS is expected to be between $7.50 and $7.60. The S&P Global Market Intelligence consensus normalized EPS estimate for the fiscal first quarter is 35 cents, and the estimate for fiscal year 2020 is $7.55.

Intuit's GAAP EPS for the first fiscal quarter is expected to be a loss of between 2 cents and 4 cents, while fiscal year EPS is expected to be between $6.35 and $6.45. Intuit expects to post revenue of $1.11 billion to $1.13 billion in the first fiscal quarter and $7.44 billion to $7.54 billion in the fiscal year.

The company's board approved a quarterly dividend of 53 cents per share, up from its previous dividend of 47 cents per share. The dividend is payable Oct. 18.