Business and financial software company Intuit has reported net revenues of $1.8bn for the third quarter of fiscal year 2011, an increase of 15% as compared to $1.6bn of the year-ago quarter.
Revenue from product grew to $602m, compared to $564m, and service and other revenue increased to $1.25bn, compared to $1.04bn of Q3 FY10.
For the third quarter ended 30 April 2011, the company registered an operating income of $1.1bn as compared to an operating income of $888m of the same period last year.
Intuit’s net income from continuing operations was $688m and $2.20 per diluted share, compared to a net income of $576m and $1.78 per diluted share in the third quarter of fiscal year 2010.
Intuit president and chief executive officer Brad Smith said they have achieved marked success with mobile offerings that have helped them establish a leadership position in mobile.
"Across the company, we are continuing to innovate in mobile. You’ll see interesting new apps from us for consumers and small businesses over the next several quarters," Smith said.
For the fourth quarter of fiscal 2011, the company is expecting net revenue to be between $567m and $587m and GAAP operating loss of $48m to $58m.
