Intuit 2nd-Quarter Profit Falls

Intuit Inc. said its fiscal second-quarter profit declined 7.7%, meeting analysts’ expectations, as the company fights off competition in the consumer market for financial software. The Mountain View-based firm said profit from continuing operations for the quarter ended Jan. 31 fell to $47 million, or 95 cents a diluted share, from $50.9 million, or $1.07, a year earlier, beating analysts’ estimates by a penny. Intuit shares fell $2.25 to close at $49.88 on Nasdaq.