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TheStreet Open House

Intuit Reports 10 Percent Growth In Total TurboTax Units Through Feb. 18

Stock quotes in this article: INTU

Intuit Inc. (Nasdaq:INTU) today released the first of three season-to-date updates for its fiscal year 2012 consumer tax offerings. Through Feb. 18, total TurboTax federal units were up 10 percent compared to the same period last year. Also through Feb. 18, TurboTax Online units were up 19 percent, while desktop units decreased 2 percent compared to the same period last year.

"We continue to see the tax season shifting out, a trend we’ve noted over the last few years,” said Dan Maurer, senior vice president and general manager of Intuit’s consumer group. “We're off to a good start, maintaining our focus on the continued growth in online tax preparation.”

As part of the company’s second-quarter earnings announcement, Intuit today also reiterated full-year Consumer Tax revenue growth guidance of 10 to 13 percent and company revenue growth guidance of 9 to 11 percent. Further details are available in the second-quarter earnings release issued today.

Season-to-date TurboTax Federal Unit Data

   

Comparable Prior- Year Period

 

Season Through Feb. 18, 2012

 

Percent Change Year-Over-Year

TurboTax Desktop 4,408,000 4,315,000 -2%
TurboTax Web 7,725,000 9,187,000 19%

Sub-total TurboTax Units

12,133,000 13,502,000 11%

TurboTax Free FileAlliance

635,000 590,000 -7%

Total TurboTax Units

12,768,000 14,092,000 10%

Note: Unit data through Feb. 18, 2012.

Intuit will issue additional tax season updates in March and April.

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