Narrative Science writes: Intuit INTU -0.33% is expected to book a wider loss than a year ago when it reports first quarter earnings on Thursday, November 21, 2013 with analysts expecting a loss of 20 cents per share, down from a loss of 17 cents per share a year ago.
Over the past month, the consensus estimate has jumped from a loss of 21 cents, but it’s below the estimate of a loss of 19 cents from three months ago. Analysts are projecting earnings of $3.14 per share for the fiscal year. After being $647 million a year ago, analysts project revenue to drop 7% year-over-year to $603 million for the quarter. For the year, revenue is projected to come in at $4.48 billion.
Intuit’s loss in the most recent quarter came after two previous quarters of profitability.
Over the last four quarters, the company saw a year-over-year drop in revenue by an average of 6%. The biggest fall was in the most recent quarter, when it fell 42% from the year-earlier quarter.
Earnings estimates provided by Zacks.
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