Year-to-date through April 16 total sales of federal units of TurboTax grew 10% compared to the same period in 2013. "We delivered a strong tax season, growing the do-it-yourself software category and gaining share," Sasan Goodarzi, senior vice president and general manager of Intuit's consumer tax group said in a press release.
The company also increased its guidance for Consumer Tax revenue growth to about 6% from between 4% and 5%. Intuit also reiterated its total revenue growth guidance of 6% to 8%.
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TheStreet Ratings team rates INTUIT INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTUIT INC (INTU) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, good cash flow from operations, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."