Intuit Inc. (Nasdaq: INTU) today issued its second of three season-to-date results for its fiscal year 2013 consumer tax offerings. From Jan. 30 through March 16, sales of TurboTax Online units increased 29 percent versus the comparable prior-year period. Total TurboTax federal units were up 26 percent in the same span.
Tax season typically begins in mid-January. This year, however, the Internal Revenue Service opened e-file Jan. 30, roughly two weeks later than usual. For the total season through March 16, total TurboTax federal units were flat year over year. “IRS data shows total returns are down 7 percent as of March 15,” said Dan Maurer, senior vice president and general manager of Intuit’s consumer group. “We’ve had strong growth since Jan. 30 and season-to-date we're taking share at retail, outperforming in mobile channels and maintaining our strong leadership position online. We’re looking forward to a strong end to the season. Millions of Americans still need to file their taxes.”
Intuit today also reiterated full-year Consumer Tax revenue growth guidance of 8 to 10 percent and company revenue growth guidance of 10 to 12 percent.
|Season-to-date TurboTax Federal Unit Data|
|Season Through March 17, 2012||Season Through March 16, 2013||Year-over-year Change||Jan. 30- March 16, 2013 Change Versus Comparable Prior-year Period|
|Sub-total TurboTax Units||17,541,000||17,649,000||1%||26%|
|TurboTax Free File Alliance||831,000||698,000||-16%||21%|
|Total TurboTax Units||18,372,000||18,347,000||0%||26%|
|Note: Unit data through March 16, 2013.|
The company will issue a third and final tax season update at the end of April.
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