Intuit Jumps as Cloud Shift Leads to Higher Revenue Forecast
- Software provider says `momentum continues to accelerate'
- Workday, Autodesk also pushing products to the Internet
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Intuit Inc. shares jumped Friday after the maker of personal tax and accounting software forecast sales that may top estimates as it moves more of its products onto the Internet.
Revenue will be $880 million to $900 million for the fiscal second quarter, which will end Jan. 31, the company said Thursday in a statement. That exceeded analysts’ average estimate of $826.7 million, according to data compiled by Bloomberg. Intuit anticipates adjusted profit of 17 cents to 20 cents a share in the period, compared with a projection of 5 cents.