Press release
Intuit Reports Third Quarter Results and Raises Total Company Full Year Guidance
Small Business and Self-Employed Group Revenue Grew 21 Percent; Consumer Group Revenue Reflects Unique Tax Season MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--
About this update from Intuit Inc.
[{"type":"text","content":"\nSmall Business and Self-Employed Group Revenue Grew 21 Percent; Consumer Group Revenue Reflects Unique Tax Season\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 third quarter of fiscal 2023, which ended April 30.\n\n\n“We are raising our total company revenue, operating income, and earnings per share guidance for the fiscal year, demonstrating the strength and resiliency of our platform and portfolio in uncertain times,” said Sasan Goodarzi, Intuit’s chief executive officer. “The benefits of our global financial technology platform are more mission-critical than ever to our customers.”\n\n\nFinancial Highlights\n\n\nFor the third quarter, Intuit:\n\n\n\nGrew total revenue to $6.0 billion, up 7 percent.\n\n\n\nIncreased Small Business and Self-Employed Group revenue to $2.0 billion, up 21 percent; grew Online Ecosystem revenue to $1.5 billion, up 23 percent.\n\n\n\nIncreased Consumer Group revenue to $3.3 billion, up 3 percent.\n\n\n\nReported Credit Karma revenue of $410 million, down 12 percent.\n\n\n\nReported ProTax Group revenue of $246 million, down 5 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 Third-quarter Results\n\n\n\n\n \n\n\n\n\n\n\nGAAP\n\n\n\n\n\n\nNon-GAAP\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ3\nFY23\n\n\n\n\n\n\nQ3\nFY22\n\n\n\n\n\n\nChange\n\n\n\n\n\n\nQ3\nFY23\n\n\n\n\n\n\nQ3\nFY22\n\n\n\n\n\n\nChange\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n$6,018\n\n\n\n\n\n\n$5,632\n\n\n\n\n\n\n7%\n\n\n\n\n\n\n$6,018\n\n\n\n\n\n\n$5,632\n\n\n\n\n\n\n7%\n\n\n\n\n\n\n\n\nOperating Income\n\n\n\n\n\n\n$2,778\n\n\n\n\n\n\n$2,395\n\n\n\n\n\n\n16%\n\n\n\n\n\n\n$3,358\n\n\n\n\n\n\n$2,904\n\n\n\n\n\n\n16%\n\n\n\n\n\n\n\n\nEarnings Per Share\n\n\n\n\n\n\n$7.38\n\n\n\n\n\n\n$6.28\n\n\n\n\n\n\n18%\n\n\n\n\n\n\n$8.92\n\n\n\n\n\n\n$7.65\n\n\n\n\n\n\n17%\n\n\n\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 accordance with Generally Accepted Accounting Principles (GAAP).\...