Intuit (INTU) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this maker of TurboTax, QuickBooks and other accounting software have returned -0.9% over the past month versus the Zacks S&P 500 composite's +2.1% change. The Zacks Computer - Software industry, to which Intuit belongs, has lost 2.5% over this period. Now the key question is: Where could the stock be headed ...

Intuit Inc. (NASDAQ:INTU) Morgan Stanley Technology, Media & Telecom Conference March 5, 2024 4:20 PM ET Company Participants Sandeep Aujla - Chief Financial Officer Conference Call Participants Keith Weiss - Morgan Stanley Keith Weiss Excellent. Thank you, everyone, for joining us this afternoon. My name is Keith Weiss. I run the U.S. software research practice here at Morgan Stanley, and very pleased to have with us, I think, for the first time at the TMT Conference. Sandeep Aujla, CFO of Intuit. Thank yo ...

Intuit Inc. (NASDAQ:INTU) Morgan Stanley Technology, Media & Telecom Conference March 5, 2024 4:20 PM ET Company Participants Sandeep Aujla - Chief Financial Officer Conference Call Participants Keith Weiss - Morgan Stanley Keith Weiss Excellent. Thank you, everyone, for joining us this afternoon. My name is Keith Weiss. I run the U.S. software research practice here at Morgan Stanley, and very pleased to have with us, I think, for the first time at the TMT Conference. Sandeep Aujla, CFO of Intuit. Thank yo ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Intuit (INTU) .Intuit currently has an average brokerage recommen ...

Intuit (INTU) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Shares of this maker of TurboTax, QuickBooks and other accounting software have returned +1.7% over the past month versus the Zacks S&P 500 composite's +3.8% change. The Zacks Computer - Software industry, to which Intuit belongs, has gained 1.3% over this period. Now the key question is: Where could the stock be headed in t ...

Crowe and QuickBooks will help advance financial maturity, foster capital-readiness, and better position these small businesses to thriveCHICAGO, Feb. 26, 2024 /PRNewswire/ -- In conjunction with Black History Month, Crowe LLP, a leading public accounting, consulting, and technology firm, and Intuit Inc. (Nasdaq: INTU), the global technology platform that makes Intuit QuickBooks, TurboTax, Credit Karma, and Mailchimp, announced their collaboration on a new Crowe Beacon small business advancement initiative, ...

Intuit (INTU) delivered fiscal second-quarter 2024 non-GAAP earnings of $2.63 per share, beating the Zacks Consensus Estimate by 14.85%.  Revenues of $3.38 billion beat the consensus mark by 0.05% and increased 11.3% year over year.Intuit provides financial management and compliance products, such as its tax-preparation software TurboTax, personal finance portal Credit Karma and accounting software QuickBooks, to small businesses.Small businesses can file their taxes with TurboTax and if a small business is ...

Intuit (INTU) reported fiscal second-quarter 2024 non-GAAP earnings of $2.63 per share, beating the Zacks Consensus Estimate by 14.85%. The bottom line jumped 19.5% from the year-ago quarter.Revenues of $3.38 billion beat the consensus mark by 0.05% and increased 11.3% year over year.Quarter DetailsSmall Business and Self-Employed Group revenues (66.3% of total revenues) grew 18.4% year over year to $2.24 billion.Within the segment, total Online Ecosystem revenues climbed 20% year over year to $1.68 billion ...

Intuit (INTU) reported $3.39 billion in revenue for the quarter ended January 2024, representing a year-over-year increase of 11.3%. EPS of $2.63 for the same period compares to $2.20 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $3.38 billion, representing a surprise of +0.05%. The company delivered an EPS surprise of +14.85%, with the consensus EPS estimate being $2.29.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

Financial Data and Key Metrics - Q2 2024 revenue grew by 11%, with full-year guidance of 11% to 12% revenue growth [4] - GAAP operating income increased by 37% to $369 million, while non-GAAP operating income rose by 17% to $1 billion [64] - GAAP diluted earnings per share were $1.25, up from $0.60 last year, and non-GAAP diluted earnings per share were $2.63, up 20% [64] - Total online payment volume growth was 20% in the quarter [13] - Credit Karma delivered revenue of $375 million in Q2, flat compared to the previous year [20] - The company repurchased $536 million of stock during the quarter and approved a quarterly dividend of $0.90 per share, a 15% increase [21] Business Line Performance - Small Business and Self-Employed Group revenue grew 18%, driven by a 21% increase in online ecosystem revenue [39] - Online services revenue grew 24% in Q2, driven by payroll, payments, Mailchimp, capital, and time tracking [18] - QuickBooks Online Accounting revenue grew 19%, driven by customer growth, higher effective prices, and a mix shift towards higher-end offerings [65] - Mailchimp revenue growth was driven by higher effective prices and paid customer growth [66] - Desktop Ecosystem revenue grew 10%, with QuickBooks Desktop Enterprise revenue growing in the mid-teens [19] Market Performance - Credit Karma saw growth in Credit Karma Money, credit cards, and auto loans, offset by declines in home loans, personal loans, and auto insurance [20] - Total international online ecosystem revenue grew 16% on a constant currency basis [41] - The company is focusing on expanding globally, particularly in mid-market customers, which drive higher ARPC over time [40] Strategy and Industry Competition - The company is executing a strategy to become a global AI-driven expert platform, focusing on five "Big Bets": revolutionizing speed to benefit, connecting people to experts, unlocking smart money decisions, becoming the center of small business growth, and disrupting the small business mid-market [7][30] - Intuit Assist, the company's GenAI-powered financial assistant, is live in TurboTax and in beta for QuickBooks and Credit Karma, aiming to enhance customer engagement and monetization [9][10][31] - The company is integrating Credit Karma and TurboTax to create a seamless experience for customers, offering exclusive benefits like early access to refunds and interest-free Refund Advance loans [6] - Intuit is leveraging its GenAI Operating System (GenOS) to create breakthrough AI experiences across its platform, utilizing both proprietary and third-party financial LLMs [8] Management Commentary on Operating Environment and Future Outlook - Management remains confident in the company's AI-driven expert platform strategy and its ability to achieve full-year guidance despite macroeconomic uncertainty [16][44] - The company is focused on digitizing B2B payments to improve cash flow for small businesses, with the number of connections in the QuickBooks business network doubling since August [14] - Management highlighted the importance of Intuit Assist in transforming the company from a transactional workflow platform to a trusted daily assistant for customers [11] - The company is optimistic about the potential of its full-service tax offerings, particularly in the assisted consumer and business tax categories, which represent a $35 billion TAM [27] Other Important Information - The company was recognized by Bloomberg as one of the top 50 Companies to Watch in 2024 and ranked 22 on the Just 100 list [15] - Intuit Assist is reducing work for customers by generating and editing content for marketing campaigns, with GenAI text generation adoption rates increasing by over 70% [35] - The company is rolling out faster payment timelines for qualified customers, reducing payment time by 40% [37] Q&A Session Summary Question: Health of the small business segment and online accounting system revenue [46] - The company highlighted strong online growth of 21%, driven by innovation and digitization efforts, with a focus on mid-market customers [48][49] Question: Outlook for small businesses given the stable economy [54] - Small businesses are being challenged in the macro environment, with cash reserves down 11% year-over-year but up 115% over pre-pandemic levels [55] - Higher-value mid-market customers are healthier than smaller businesses, with sectors like professional services and auto repairs performing well [56] Question: Update on the SMB market and enterprise spending [54] - The company sees more traction in higher-value mid-market customers, with a focus on innovation and go-to-market strategies [127] Question: Tax season performance and confidence in full-year guidance [85] - Management remains confident in the full-year guidance, with strong early interest in full-service tax offerings and green shoots in both consumer and business tax fronts [86][87] Question: Impact of Intuit Assist on customer engagement and monetization [150] - Intuit Assist is expected to drive higher engagement and monetization over time, with early testing showing higher engagement rates [95] Question: Cross-sell opportunities between QuickBooks and Mailchimp [174] - The company is focusing on product integration rather than cross-sell, aiming to integrate products at moments of truth that matter most to customers [97] Question: Margin benefits from GenAI and potential COGS impact [150] - The company sees opportunities for margin improvement through GenAI, with early examples in customer success and staffing efficiencies [116][117] Question: Durability of online services growth and pricing power [163] - The company expects online services growth to remain strong, driven by innovation and focus on higher-value customers, with pricing power tied to the value delivered [188][190] Question: Opportunities for additional bill pay options [179] - The company is rolling out same-day ACH and batch payments, with a focus on digitizing B2B payments to improve cash flow [14][37] Question: Progress in digitizing B2B payments [207] - The number of connections in the QuickBooks business network has doubled since August, with early adoption of the bill pay offering showing promise [14][207]