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Intuit Warns of Lower Sales, Earnings in Fiscal Q3 Due to Extension of IRS Tax Filing Deadline

05/11/2021 12:39

04:27 PM EDT, 05/11/2021 (MT Newswires) -- Intuit (INTU) said it expects revenue of $4.165 billion to $4.17 billion in fiscal Q3, down from its prior guidance range of $4.61 billion to $4.66 billion.

Non-GAAP diluted earnings per share are now seen in the range of $6 to $6.05, down from its prior range of $6.75 to $6.85. Analysts polled by Capital IQ had expected $4.59 billion and $6.78, respectively.

The decline in both sales and earnings is "due to the extension of the IRS tax filing deadline to May 17," the company said in a statement late Tuesday.

In fiscal 2021, the company expects to exceed the high end of its revenue, GAAP and non-GAAP earnings per share guidance set out Feb. 23 of non-GAAP EPS of $8.20 to $8.40 and revenue of $8.81 billion to $9 billion. That compares with Capital IQ consensus estimates of $8.37 and $8.96 billion, respectively.

It plans to update the 2021 guidance on its Q3 earnings call May 25.

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