Intuit Posts Q4 Miss; Calls F15 'Transition Year'

Intuit (NASDAQ: INTU) shares trended down after the company missed fiscal fourth-quarter earnings and offered a disappointing outlook.

Intuit Chief Executive Brad Smith said 2015 will be "a transition year" as the company shifts to subscription services and the cloud. "We fully expect fiscal 2016 results to return to double-digit top and bottom line growth,” Smith said.

The company forecast a fiscal fourth-quarter adjusted loss of $0.20 to $0.21 a share on revenue of $620 million to $630 million. Wall Street expected a loss of $0.06 dents a share on revenue of $680.6 million.

For the recent period, Intuit posted a loss of $73 million or $0.14 a share, compared with a year-earlier loss of $60 million or $0.05 a share. Revenue grew 13 percent to $714 million from $634 million a year earlier.

The company's adjusted loss for the recent period was $0.01 a share.

Analysts expected adjusted earnings of $0.07 a share on revenue of $699.5 million.

Intuit traded recently after hours at $84.30 down nearly two percent.