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Intuit Reports Season-to-date TurboTax Unit Results

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

TurboTax Desktop     5,073,000     4,954,000     -2%     15%
TurboTax Online     12,468,000     12,695,000     2%     29%
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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