Thursday, 20 November 2008

Intuit warns

(By Richard Holway) For all followers of Sage and other suppliers of business software to SMEs, please note– Intuit cuts forecasts – from Reuters “Intuit posted a quarterly loss and lowered its full-year outlook, saying small businesses were being unusually cautious. The company cut its fiscal 2009 forecasts for sales of QuickBooks accounting software and for revenue from payroll and bill payment processing services, as its small business customers get squeezed by the deepening recession”.

Interestingly, after hours Intuit shares were unaffected by the news. Indeed even Sage is pretty much unchanged this morning whilst the rest of the market pushes ever lower. Such is the mood that dampened expectations are now built in.

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