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Intuit issues fiscal Q3'18 guidance

Intuit Inc. released its guidance for its fiscal third quarter 2018 and disclosed its results for the fiscal second quarter.

The company projects GAAP EPS of $4.32 to $4.37 and non-GAAP EPS of $4.57 to $4.62 for the fiscal third quarter ending April 30.

The consensus normalized EPS estimate for the fiscal third quarter was $4.61, according to S&P Capital IQ.

Intuit sees GAAP operating income of about $1.54 billion to $1.56 billion and non-GAAP operating income of $1.64 billion to $1.66 billion for the fiscal third quarter. Revenue is expected to be about $2.79 billion to $2.84 billion.

The company also reported a net loss of $21 million, or a loss of 8 cents per share, in the fiscal second quarter, which ended Jan. 31. This was down from net income of $13 million, or 5 cents per share, in the year-ago period.

Non-GAAP net income for the fiscal second quarter was $91 million, or 35 cents per share, compared to $67 million, or 26 cents per share, in the prior-year quarter.

The S&P Capital IQ consensus normalized EPS estimate for the fiscal second quarter was 34 cents.