Intuit Inc. (NASDAQ:INTU) shares declined 0.08% to $58.90
in the pre-open session after the company swung to a fiscal fourth-quarter
profit as the company's payments segment led growth in its unit focused on
small business.
The company reported a fourth quarter profit of $4
million, or $0.01 a share, from a year-earlier loss of $57 million, or $0.19 a
share in the same quarter a year earlier. Adjusted earnings from continuing
operations rose to $0.03 a share from $0.02 a share. Revenue increased 14% to
$651 million. Intuit in May projected per-share earnings of $0.05 to $0.07 on
revenue of $647 million to $662 million.
Dell Inc. (NASDAQ:DELL) stock fell 6% to $11.60 after
the company’s second quarter profit fell 18%, as revenue declined and margins
declined amid weak consumer demand.
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The company reported second quarter net income of
$732 million or $0.42 per share, as compared to $890 million or $0.48 per share
for the year-ago quarter. Adjusted net income for the second quarter fell to
$875 million or $0.50 per share from $1.01 billion or $0.54 per share in the
prior year quarter. Revenue for the second quarter fell 8% $14.48 billion from
$15.66 billion in the same quarter last year. Analysts expected the company to
earn $0.45 per share on consensus revenue estimate of $14.65 billion for the
second quarter.
Additionally, the company modified its full year
adjusted earnings outlook to at least $1.70 per share, which includes a 2-to-3
cent dilutive impact from its pending acquisition of Quest Software. The
company expects third quarter revenue to be down 2% to 5% sequentially,
implying revenue of $13.76 billion to $14.19 billion. Analysts currently expect
the company to post revenue of $14.86 billion for the third quarter.
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DELL Bounce Back After Today’s Slump? Find Out Here
Of late, Dell is acquiring or has signed deals to
acquire small companies to expand its business.
Analog Devices, Inc. (NASDAQ:ADI) stock dropped 0.84%
to $40.34 in pre market trading after the company posted a lower third-quarter
profit, as revenues declined 10% reflecting lower demand at its industrial,
consumer and communications businesses.
The company posted third-quarter net income of
$169.8 million or $0.56 per share from $219.9 million or $0.71 per share in the
same quarter last year. Revenues for the quarter dropped to $683.0 million from
$757.9 million in the same quarter last year. Analysts expected earnings of
$0.56 per share on revenues of $692.06 million for the quarter.
Looking forward, the company expects fourth quarter
of 2012 revenue to in the range of $685 million to $715 million and diluted EPS
to be in the range of $0.54 to $0.60. Analysts were expecting the Company to
report revenue of $714 million and EPS of $0.60 for the fourth quarter of 2012.
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