Intuit Inc. announced on Tuesday that its revenue in the fourth quarter of the fiscal year 2022 observed an annual decline of 6% to land at $2.414 billion. The company registered an operating loss of $75 million in comparison to an operating income of $402 million recorded in the same trimester in 2021. Its net loss came in at $56 million, worsening from a net income of $308 million year-on-year. Meanwhile, its diluted losses per share stood at $0.20 per share, in contrast with earnings per share (EPS) of $1.37 noted in the same quarter the year before.
"We had a very strong fourth quarter, ending the year with momentum. We're more confident than ever in our long-term business strategy as we power prosperity around the world," Chief Executive Officer (CEO) Sasan Goodarzi commented. "Our platform and offerings are mission-critical for consumers and small businesses, and we are proud that Intuit is the platform of choice for over 100 million customers around the world."
Following the release of the report, Intuit's shares advanced by 3.89% in after-hours trading.