Intuit Inc. (Nasdaq:INTU) today announced financial results for its second fiscal quarter, which ended Jan. 31. Unless otherwise noted, all growth rates refer to the current period versus the comparable prior-year period.
- Increased total revenue by 16 percent, to $1.02 billion.
- Grew Small Business revenue 9 percent in the quarter and 11 percent for the first half of fiscal 2012. Growth has been driven by strong adoption of connected services and improving revenue per customer.
- Launched TurboTax 2011 and SnapTax to positive industry and user reviews. Grew total TurboTax federal units 10 percent season-to-date through Feb. 18. Reiterated full-year guidance for consumer tax revenue growth of 10 to 13 percent.
- Increased connected services total revenue to 60 percent of total revenue in the first half of fiscal 2012, up from 54 percent in the first half of last year.
- Reiterated fiscal year 2012 guidance for revenue and raised operating income and earnings per share guidance.
Snapshot of Second Quarter Results
|Q2 FY12||Q2 FY11||Change||Q2 FY12||Q2 FY11||Change|
Dollars are in millions, except earnings per share (EPS). See “About Non-GAAP Financial Measures” below for more information regarding financial measures not prepared in accordance with Generally Accepted Accounting Principles (GAAP).