ToplineThe Federal Trade Commission has found Intuit, the maker of TurboTax, used deceptive advertising techniques by promoting “free” tax preparation services that weren’t actually free for all customers, the FTC said Monday, issuing an order to rein in some of the company’s marketing practices.Intuit will appeal the decision. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via ... [+] Getty Images)SOPA Images/LightRocket via Getty Images Key FactsThe FTC found Intuit’s claims that TurboTax ...

One of the most impressive things about the technology sector is that it can adapt to any other existing sector. Without a doubt, a fundamental pillar for the evolution and improvement of our daily lives is the software companies that are constantly developing and implementing tools that facilitate our existence as a society and improve each of the processes that we need to execute. If you want to invest in companies that are constantly developing incredible applications and betting on our future, here are ...

The latest trading session saw Intuit (INTU) ending at $599.84, denoting a -0.66% adjustment from its last day's close. This change lagged the S&P 500's 0.56% loss on the day. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.59%.Shares of the maker of TurboTax, QuickBooks and other accounting software have depreciated by 2.84% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.27% and the S&P 500's gain of 1.2%.The upcom ...

Every day for the next three weeks, we're going to highlight one of Schaeffer's top 12 picks for 2024. First up this week, we have fintech stock Intuit Inc. (NASDAQ:INTU). To access the entirety of the 2024 report, click here.Tax software stock Intuit (INTU) has outperformed the Nasdaq Composite Average (NDQ) over most measurable periods both short-and long-term. Even amid bouts of volatility, INTU carved out channels of higher highs all throughout 2023. Shorter term, the stock has consolidated above the 61 ...

Intuit (INTU) ended the recent trading session at $608.71, demonstrating no swing from the preceding day's closing price. This move was narrower than the S&P 500's daily loss of 0.07%.The maker of TurboTax, QuickBooks and other accounting software's stock has dropped by 0.25% in the past month, falling short of the Computer and Technology sector's gain of 2.5% and the S&P 500's gain of 3.98%.The upcoming earnings release of Intuit will be of great interest to investors. On that day, Intuit is projected to r ...

JHVEPhoto Investment action I recommended a hold rating for Intuit (NASDAQ:INTU) when I wrote about it the last time, as I expected headwinds from the macro environment to impact INTU's core customer base - small businesses and consumers. Based on my current outlook and analysis of INTU, I recommend a buy rating. My change in rating is primarily due to INTU performing much better than I expected in 1Q24, showing that it is not heavily impacted by the macro environment (which was my concern). Not only that, ...

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, will hold its annual stockholder meeting virtually on Thursday, January 18 at 8:00 AM Pacific time (11:00 AM Eastern time). Sasan Goodarzi, Intuit’s chief executive officer, will review the company's fiscal year 2023 results and discuss the company’s strategy for growth. The meeting will be webcast live on Intuit’s website at http ...

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced today that Credit Karma members and QuickBooks Online customers can prepare and file their 2023 taxes through TurboTax within the Credit Karma and QuickBooks Online product experiences. Combining Intuit’s AI-platform capabilities and the tax knowledge engine powering TurboTax with a filer’s personal and financial data alre ...

-Oxford- In May, I thought that Intuit (NASDAQ:INTU) was a solid company, but that it looked fairly valued. I followed that up in July, saying the company’s early foray into AI could help it gain investor attention, but that it was trading at levels above its big software peers. With the stock up about 45% since my initial write-up, let's catch-up on the name. Company Profile As a refresher, INTU provides financial management and compliance software for both small businesses and consumers. Its Small Bus ...

Financial Data and Key Metrics Changes - Total revenue grew 15% year-over-year, reaching $3 billion, driven by Small Business and Self-Employed Group revenue growth of 18% and Consumer Group revenue growth of 25% [8][49] - GAAP operating income was $307 million compared to $76 million last year, while non-GAAP operating income increased 45% to $960 million from $662 million [49] - GAAP diluted earnings per share rose to $0.85 from $0.14 a year ago, and non-GAAP diluted earnings per share increased 49% to $2.47 from $1.66 [49] Business Line Data and Key Metrics Changes - Small Business and Self-Employed Group revenue grew 18%, with the online ecosystem growing 20% [23] - QuickBooks Online accounting revenue increased 19%, driven by customer growth and higher effective prices [50] - Consumer Group revenue was $187 million, growing 25%, while ProTax revenue was $42 million, growing 24% [52] Market Data and Key Metrics Changes - Total international online ecosystem revenue grew 16% on a constant currency basis [24] - Total online payment volume growth was strong at 21% [16] - Credit Karma revenue was $405 million, down 5% year-over-year, attributed to conservative credit extension by partners [25] Company Strategy and Development Direction - The company is focused on becoming an AI-driven expert platform, emphasizing the integration of data and AI across its offerings [9][21] - The five big bets include revolutionizing speed to benefit, connecting people to experts, unlocking smart money decisions, being the center of small business growth, and disrupting the small business mid-market [16] - The strategy includes enhancing customer engagement through Intuit Assist, which aims to provide personalized financial assistance [15][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of small businesses on their platform, noting that those using their services have a higher success rate [42][62] - The company is committed to navigating macroeconomic uncertainties while focusing on long-term growth and innovation [27][49] - Management reiterated full-year guidance for fiscal 2024, expecting total company revenue growth of 11% to 12% [54] Other Important Information - The company launched Intuit for Education, a financial literacy program aimed at Gen Z and Gen Alpha students [47] - A quarterly dividend of $0.90 per share was approved, representing a 15% increase compared to last year [53] Q&A Session All Questions and Answers Question: AI strategy and learning across segments - Management highlighted that best practices are shared daily across teams, enhancing innovation and progress [32] Question: Strength in Mailchimp and operating margins - The strength in Mailchimp is attributed to execution rather than macro tailwinds, and operating margins were influenced by expenses moving to later quarters [37][38] Question: Health of small businesses - Small businesses are resilient, with varying performance across sectors, and overall cash reserves are strong compared to pre-pandemic levels [42][62] Question: QuickBooks Online growth deceleration - Management noted that the deceleration was primarily due to a larger price increase last year and emphasized strong retention and acquisition [65] Question: Credit Karma trends - Management indicated that the quarter's performance was in line with expectations, with no significant linearity observed [66][88] Question: Price testing for Intuit Assist - Insights from testing indicate the importance of embedded benefits, leading to considerations for monetization strategies [70] Question: TurboTax performance and new initiatives - The strength in TurboTax was driven by an increase in filers and successful product innovations, particularly in TurboTax Live [73] Question: Mailchimp's performance in different markets - Management is focusing on both US and international markets, with significant progress in localization and pricing strategies [78] Question: Bill Pay ramp-up - Bill Pay is now generally available, with strong adoption among mid-market customers, and future enhancements are planned [97]