Intuit's Stock Drops as Its Outlook Disappoints

Intuit (INTU) reported fiscal first-quarter results that beat analysts expectations, but shares tumbled in extended trading as the company's current-quarter forecast disappointed. The TurboTax and Credit Karma parent saw first-quarter revenue grow 10% to $3.3 billion, above the analyst consensus from Visible Alpha. Net income of $197 million or 70 cents per share declined from $241 million or 85 cents per share in the year-ago quarter, but topped analysts’ projections.  Looking ahead, Intuit said it expect ...