Business
Intuit Reports Third Quarter Results and Raises Full Year Revenue and Operating Income Guidance
Organic online ecosystem revenue grew 31 percent TurboTax Live revenue expected to grow approximately 30 percent to $1 billion in fiscal 2022 MOUNTAIN VIEW,
About this update from Intuit Inc.
[{"type":"text","content":"\nOrganic online ecosystem revenue grew 31 percent\n\nTurboTax Live revenue expected to grow approximately 30 percent to $1 billion in fiscal 2022\n\n MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nIntuit Inc. (Nasdaq: INTU), the global technology platform that makes TurboTax, QuickBooks, Mint, Credit Karma and Mailchimp, announced financial results for the third quarter of fiscal 2022, which ended April 30.\n\n“We are confident in our strategy and execution across the company as we become the global AI-driven expert platform powering the prosperity of consumers and small businesses,” said Sasan Goodarzi, Intuit's chief executive officer. “We had another strong quarter, and we are raising Intuit’s revenue and operating income guidance for fiscal year 2022.”\n\nFinancial Highlights\n\nFor the third quarter, Intuit:\n\n\nGrew total revenue to $5.6 billion, up 35 percent, including the addition of Mailchimp. Excluding Mailchimp, total revenue grew 29 percent.\n\n\nGrew Consumer Group revenue 32 percent to $3.2 billion, reflecting the earlier tax filing deadline this year.\n\n\nIncreased Small Business and Self-Employed Group revenue 42 percent to $1.7 billion. Excluding Mailchimp revenue of $257 million, Small Business and Self-Employed Group revenue grew 20 percent.\n\n\nGrew Online Ecosystem revenue 67 percent to $1.2 billion. Excluding Mailchimp, Online Ecosystem revenue grew 31 percent.\n\n\nIncreased Credit Karma revenue 48 percent to $468 million, a quarterly record for the business.\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\nSnapshot of Third-quarter Results\n\n\n\n \n\n\n\nGAAP\n\n\n\nNon-GAAP\n\n\n\n\n\n \n\n\n\nQ3\nFY22\n\n\n\nQ3\nFY21\n\n\n\nChange\n\n\n\nQ3\nFY22\n\n\n\nQ3\nFY21\n\n\n\nChange\n\n\n\n\n\nRevenue\n\n\n\n$5,632\n\n\n\n$4,173\n\n\n\n35%\n\n\n\n$5,632\n\n\n\n$4,173\n\n\n\n35%\n\n\n\n\n\nOperating Income\n\n\n\n$2,395\n\n\n\n$1,914\n\n\n\n25%\n\n\n\n$2,904\n\n\n\n$2,201\n\n\n\n32%\n\n\n\n\n\nEarnings Per Share\n\n\n\n$6.28\n\n\n\n$5.30\n\n\n\n18%\n\n\n\n$7.65\n\n\n\n$6.07\n\n\n\n26%\n\n\n\n\nDollars are in millions, except earnings per share. See “About Non-GAAP Financial Measures” below for more information regarding financial measures not prepared in...