Press release
Intuit Reports Strong Fourth Quarter and Full Year Results; Sets Fiscal 2024 Guidance
Full year revenue grew 13 percent, Small Business and Self-Employed Group revenue grew 24 percent MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Intuit Inc.
About this update from Intuit Inc.
[{"type":"text","content":"\nFull year revenue grew 13 percent, Small Business and Self-Employed Group revenue grew 24 percent\n\n\n MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nIntuit Inc. (NASDAQ: INTU), the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced financial results for the fourth quarter and full fiscal year 2023, which ended July 31, 2023.\n\n\n\"We had a very strong fourth quarter, ending the year with momentum, as we executed on our strategy to be the global AI-driven expert platform powering prosperity for consumers and small businesses,\" said Sasan Goodarzi, Intuit's chief executive officer. \"Our overall performance demonstrates the strength of our platform and portfolio including our ability to maintain earnings power in uncertain times and expand operating margin while investing in the most important areas to drive durable long-term growth.\"\n\n\nFinancial Highlights\n\n\nFor the full year, Intuit:\n\n\n\nGrew total revenue to $14.4 billion, up 13 percent year-over-year.\n\n\n\nIncreased combined Platform revenue, which includes the Small Business and Self-Employed Group Online Ecosystem, TurboTax Online and Credit Karma, 14 percent to $11.0 billion.\n\n\n\nGrew Small Business and Self-Employed Group revenue 24 percent and Online Ecosystem revenue 30 percent.\n\n\n\nGrew Consumer Group revenue 6 percent to $4.1 billion.\n\n\n\nReported Credit Karma revenue of $1.6 billion, down 9 percent.\n\n\n\nGrew GAAP operating income 22 percent to $3.1 billion.\n\n\n\nIncreased Non-GAAP operating income 22 percent to $5.5 billion.\n\n\n\nGrew GAAP earnings per share 16 percent to $8.42.\n\n\n\nIncreased non-GAAP earnings per share 22 percent to $14.40.\n\n\n\nFor the fourth quarter, Intuit:\n\n\n\nGrew total revenue 12 percent to $2.7 billion.\n\n\n\nIncreased Small Business and Self-Employed Group revenue 21 percent to $2.1 billion and Online Ecosystem revenue 21 percent.\n\n\n\nReported Credit Karma revenue of $424 million, down 11 percent.\n\n\n\nReported Consumer Group revenue of $128 million, down 12 percent.\n\n\n\nUnless otherwise noted, all growth rates refer to the current period versus the comparable prior-year period, and the business metrics and associated growth rates refer to worldwide business metrics.\n\n\nSnapshot of Fiscal Year 2023 Full-year Results\n\n\n\n\nGAAP\n\n\n\n\...