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Intuit Profit Up 44%

May 24, 2000|Bloomberg News

Intuit Inc. said pro forma profit rose 44% to $76.3 million, or 36 cents a share, in its fiscal third-quarter, from $50 million, or 25 cents, a year ago, exceeding analyst estimates of 33 cents. The maker of personal finance software said sales rose 26% to $329.1 million. Intuit shares have fallen about 60% in the last three months partly on concern that sales are increasing more slowly than expected, after revenue rose 14% in the second quarter. Intuit shares fell $1.25 to close at $27.06 on Nasdaq, before the earnings were released.

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