Stock Watch: Intuit Climbs After Strong Earnings

Shares of personal-finance software company Intuit (Nasdaq: INTU) saw a nice boost on Friday, climbing nearly 10 percent on a down day on Wall Street. Intuit stock gained 8-3/16 to 91-1/16 one day after the company reported solid fourth-quarter earnings for its fiscal 1999. Intuit reported fourth-quarter revenues of $149.9 million, up 28 percent from the same quarter a year ago. Overall, the company lost 26 cents per share. Analysts polled by First Call had expected a loss of 33 cents.

Intuit’s quarter was largely boosted by e-commerce sales. In fiscal 1999, the company’s Internet-based revenue was $125.3 million. This figure was 15 percent of its overall revenue, and more than twice as much as the online revenue the company reported in 1998.

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