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.
Can 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.