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Intuit Forecast Tops Estimates as Cloud Shift Pays Off

Intuit Inc. forecast sales that may top estimates, as the maker of personal tax and accounting software moves more of its products onto the Internet.

Revenue will be $880 million to $900 million for the fiscal second quarter, which will end Jan. 31, the company said Thursday in a statement. That exceeded analysts’ average estimate of $826.7 million, according to data compiled by Bloomberg. Intuit anticipates adjusted profit of 17 cents to 20 cents a share in the period, compared with a projection of 5 cents.

Chief Executive Officer Brad Smith is pushing more of his products to customers over the Web as more consumers and small businesses adopt cloud-based services. Subscriptions to QuickBooks Online...


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