Press release
Intuit Reports Strong Fourth Quarter and Full Year Results; Sets Fiscal 2025 Guidance With Double Digit Revenue and Earnings Growth
Full year revenue grew 13 percent, Small Business and Self-Employed Group revenue grew 19 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 19 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 2024, which ended July 31, 2024.\n\n\n“We delivered very strong results for the fourth quarter and full year, and made meaningful progress with our AI-driven expert platform strategy that positions the company for durable growth in the future,” said Sasan Goodarzi, Intuit's chief executive officer. “Our strategy and five Big Bets are solving our customers’ biggest problems as we deliver on our mission to power prosperity for consumers, and small and mid-market businesses.”\n\n\nFinancial Highlights\n\n\nFor the full year, Intuit:\n\n\n\nGrew total revenue to $16.3 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 $12.5 billion.\n\n\n\nGrew Small Business and Self-Employed Group revenue 19 percent and Online Ecosystem revenue 20 percent.\n\n\n\nGrew Consumer Group revenue 7 percent to $4.4 billion.\n\n\n\nIncreased Credit Karma revenue 5 percent to $1.7 billion.\n\n\n\nGrew GAAP operating income 16 percent to $3.6 billion, including a restructuring charge of $223 million recognized in the fourth quarter related to the organizational changes the company announced in July.\n\n\n\nIncreased non-GAAP operating income 16 percent to $6.4 billion.\n\n\n\nGrew GAAP earnings per share 24 percent to $10.43, also including the restructuring charge.\n\n\n\nIncreased non-GAAP earnings per share 18 percent to $16.94.\n\n\n\nFor the fourth quarter, Intuit:\n\n\n\nGrew total revenue 17 percent to $3.2 billion.\n\n\n\nIncreased Small Business and Self-Employed Group revenue 20 percent to $2.6 billion and Online Ecosystem revenue 18 percent.\n\n\n\nGrew Credit Karma revenue 14 percent to $485 million.\n\n\n\nReported Consumer Group revenue of $113 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 w...