UPDATE 3-Intuit Q3 profit boosted by strong consumer tax rev

* Q3 adj EPS $1.89 vs est $1.82

* Q3 rev $1.61 bln vs est $1.55 bln

* Sees Q4 adj loss/shr $0.10-$0.11 (Recasts; adds analyst comments, details from conference call, background)

By Sweta Singh and Deepti Govind

BANGALORE, May 20 (Reuters) - Intuit Inc (INTU.O), maker of QuickBooks accounting software, reported quarterly profit above Street estimates helped by strong revenue at its consumer tax segment, but forecast a wider-than-expected loss for the fourth quarter.

In the fourth quarter, the financial solution segment will not have the benefit of the tax season revenue and revenue growth will likely return to single digits, finance chief Neil Williams said on a post-earnings call with analysts.

Seasonally, Intuit generates most of its revenue and profits in the second and third quarters, and typically posts a loss in the remaining fiscal quarters as they do not fall in the tax season. Profits in the second and third quarters more than compensate for those losses.

For the full year, Intuit guided both earnings and revenue above Wall Street, following its strong performance in the third quarter. [ID:nASA00E2N]

The Mountain View, California-based company has been gaining market share from H&R Block Inc (HRB.N) and No.2 player Jackson Hewitt Tax Service Inc JTX.N as more people move to "do-it-yourself" models.

For the fourth quarter, the company expects a loss, excluding items, of 10 cents to 11 cents a share, on revenue of $492 million to $507 million.

Analysts on average were expecting a loss of 9 cents a share on revenue of $499.3 million, according to Thomson Reuters I/B/E/S.

"The fourth and first quarter is when they lose money and so small changes make the number look worse or better. What's really important is the full-year result," analyst Gil Luria of Wedbush Securities said.

STRONG TAX SEASON BOOSTS Q3

"We saw across-the-board strength, fueled by a great tax season, a return to double-digit revenue growth in small business, and continued strong performance from our financial institutions segment," Chief Executive Brad Smith said.

Net income for the third quarter ended April 30 was $576 million, or $1.78 per share, compared with $485 million, or $1.47 a share in the year-ago period. Excluding items, the company earned $1.89 a share.

Third-quarter revenue increased 13 percent to $1.61 billion, helped in part by a 12 percent rise in revenue at its consumer tax segment.

Analysts' were expecting a profit of $1.82 per share on revenue of $1.55 billion.

The company's small business segment group, which was facing headwinds as its QuickBooks product line suffered due to the weak economy, was stronger-than-expected in the third quarter of 2010.

"Our customer satisfaction scores are much improved in the QuickBook product this year", CFO Williams told Reuters.

Sales at its small business segment grew 13 percent for the third quarter.

"The most obvious thing that stands out is the beat on consumer tax," said Brad Zelnick of Macquarie Securities, which makes a market in Intuit's securities.

Zelnick, who was modeling a 10.5 percent year-on-year growth in the segment, said the solid beat reflected consumer preference for the company's higher-value, higher-priced product versions.

Intuit's positive commentary struck a different note from that of rival H&R Block, which said on Wednesday that it would cut 400 jobs as it realigns its organizational structure, following a disappointing tax season. [ID:nSGE64I0JQ]

Intuit shares were trading down 1 percent at $33.50 after the bell. They closed at $33.75 in regular session on Nasdaq Thursday. (Reporting by Deepti Govind and Sweta Singh in Bangalore; Editing by Roshni Menon, Unnikrishnan Nair)