Stock Watch: Intuit Rallies As Revenues Surpass $1B

Intuit itself shot up 8 9/16 to 54 5/8 Wednesday, one day after announcing fiscal year 2000 revenues of $1.1 billion — the first time the company has passed the billion-dollar mark.

The 16 percent increase over 1999 revenues of $940.4 million was the result of a 108 percent hike in Internet earnings, as well as a 15 percent growth rate in non-Internet product and service revenues, the company said.

“We are winning on the Web, hitting key milestones in both Internet revenues and profitability,” said Steve Bennett, Intuit’s president and chief executive officer.

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