UPDATE 1-Intuit posts narrower-than-expected loss

* Q1 loss of 10 cts/shr vs Street view for 16 cent loss

* Sees Q2 profit of 29-32 cents vs Street view for 37 cents

* Shares little changed

BOSTON, Nov 19 - Intuit Inc, maker of QuickBooks accounting software, posted a narrower-than-expected quarterly loss on tight cost controls, though it issued a profit outlook below Wall Street projections.

The software maker's results are sometimes seen as a bellwether for the economy because its top-selling product is QuickBooks accounting software for small businesses.

The lower-than-expected forecast overshadowed better-than-expected results for first quarter ended Oct. 31, which Intuit attributed to cost controls and its postponing some spending on marketing until the second quarter.

It posted a first-quarter loss of 10 cents a share, narrower than the 16 cent a share loss forecast by analysts polled by Thomson Reuters I/B/E/S.

First-quarter revenue rose 2 percent to $493 million, ahead of analysts' average forecast of $488 million.

Still, the company forecast second-quarter per-share profit, excluding items, of 29 cents to 32 cents, sharply below the Street view of 37 cents.

It also projected second-quarter revenue of $800 million to $835 million. The $817.5 million mid-point of that range is below the average analyst forecast of $833 million.

Shares of Mountain View, California-based Intuit fell 0.3 percent to $30.18 from their Nasdaq close of $30.27.