Intuit Inc. (NASDAQ:INTU) stock rose 5.72% (As on August 24, 11:08:47 AM UTC-4, Source: Google Finance) after the company reported a fiscal fourth-quarter loss of $56 million, after reporting a profit in the same period a year earlier. QuickBooks Online accounting revenue grew 34 percent for the quarter and 33 percent for the year. Growth in the quarter was driven primarily by higher effective prices, customer growth, and mix shift. Online services revenue grew 116 percent for the quarter and 107 percent for the year. The growth in the quarter was driven by the addition of Mailchimp, and growth in QuickBooks Online payroll and QuickBooks Online payments. Excluding Mailchimp, online services revenue grew 29 percent for the quarter and 34 percent for the year. TurboTax Online units grew 1 percent and total TurboTax units were flat year-over-year, excluding users of the TurboTax Free File offering in the prior year period. ProConnect professional tax revenue grew 6 percent for the year.

INTU in the fourth quarter of FY 22 has reported the adjusted earnings per share of $1.10, beating the analysts’ estimates for the adjusted earnings per share of 98 cents, according to Zacks Investment Research. The company had reported 6 percent decline in the adjusted revenue to $2.41 billion in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $2.35 billion. Excluding Mailchimp, total revenue declined 16 percent. Increased Small Business and Self-Employed Group revenue 41 percent to $1.8 billion and Online Ecosystem revenue by 66 percent. Excluding Mailchimp revenue of $265 million, Small Business and Self-Employed Group revenue grew by 20 percent and Online Ecosystem revenue grew by 32 percent. Grew Credit Karma revenue 17 percent to $475 million. The company has reported Consumer Group revenue of $145 million, compared to $852 million in the prior year, reflecting the earlier tax filing deadline this year.

For the current quarter ending in November, Intuit expects its per-share earnings to range from $1.14 to $1.20. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.86. The company expects revenue to be in the range of $2.48 billion to $2.51 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $2.56 billion.

Intuit expects full-year earnings to be in the range of $13.59 to $13.89 per share, with revenue ranging from $14.49 billion to $14.7 billion.