: Intuit fiscal Q2 tops views, company announces new CFO


Intuit Inc. INTU, +1.93% late Thursday beat Wall Street expectations for its fiscal second quarter and announced the retirement of its longtime chief financial officer. Intuit earned $168 million, or 60 cents a share, in the quarter, compared with $100 million, or 35 cents a share, in the year-ago period. Adjusted for one-time items, Intuit earned $2.20 a share. Revenue rose 14% to $3 billion, the company said. Analysts polled by FactSet expected adjusted EPS of $1.47 on revenue of $2.9 billion. Intuit had a “strong” quarter, and it is “confident that the benefits of the Intuit platform are more mission-critical than ever to our customers,” Chief Executive Sasan Goodarzi said in a statement. Separately, the maker of TurboTax, QuickBooks and other financial-technology names said it has named Sandeep Singh Aujla as its chief financial officer, effective Aug. 1. Aujla has held “senior” finance positions at Intuit for seven years, the company said. Chief Financial Officer Michelle Clatterbuck, who has held the role since 2018, plans to step down as CFO on July 31, Intuit said. Clatterbuck is retiring after 20 years with the company. Shares of Intuit edged higher in the after-hours session after ending the regular trading day up 1.4%.

This article was originally published by Marketwatch.com. Read the original article here.

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