Intuit reported that its fiscal 2008 revenue of $3.1 billion grew 15 percent from last year and its fourth quarter revenue of $478 million increased 11 percent from the year-ago quarter.
However, the accounting and tax software developer also reported a fourth-quarter loss of $61.9 million, or 19 cents per share, compared with a loss of $13.6 million, or 4 cents per share, in the year-ago quarter. That was in line with analyst expectations as the company typically experiences a loss in the fourth quarter.
For the year, QuickBooks revenue was $622 million, an increase of 6 percent from the prior year. Payroll and payments revenue was $561 million, a 9 percent increase from the prior year. Consumer tax revenue was $929 million, a 14 percent increase from the prior year. Accounting professionals revenue was $327 million, an increase of 4 percent from the prior year.
For fiscal 2009, Intuit forecasts revenue of $3.35 billion to $3.43 billion, which would translate to growth of 9 to 12 percent.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access