Intuit Stock Price, News & Analysis

Intuit (INTU) reported strong Q2 fiscal 2025 results, with total revenue growing 17% to $4.0 billion. The company's Global Business Solutions Group revenue increased 19% to $2.7 billion, while Online Ecosystem revenue rose 21% to $2.0 billion. Credit Karma showed impressive growth with revenue up 36% to $511 million.

Key financial metrics include GAAP operating income up 61% to $593 million and non-GAAP operating income increasing 26% to $1.3 billion. GAAP EPS grew 34% to $1.67, while non-GAAP EPS rose 26% to $3.32.

The company reiterated its full-year fiscal 2025 guidance, projecting revenue growth of 12-13% to $18.16-18.35 billion and non-GAAP EPS of $19.16-19.36. Intuit also announced a 16% increase in quarterly dividend to $1.04 per share, payable April 18, 2025.

Intuit (NASDAQ: INTU) announced the launch of its national Financial Literacy Forum series and Hour of Finance Challenge, starting with a collaboration with NFL's Inspire Change initiative during Super Bowl LIX week in New Orleans. The initial forum, scheduled for February 4, 2025, will host 400 high school students and teachers from New Orleans' west side schools.

The company plans to expand these forums nationwide, partnering with various sports teams including the 49ers Foundations, Washington Commanders, and LA Clippers. The initiative features the Hour of Finance Challenge, a free interactive competition launching during Financial Literacy Month, focusing on credit, taxes, budgeting, and investments through the Intuit Prosperity Quest game.

Through Intuit for Education, the company aims to reach 50 million students by 2030, offering free financial literacy programs with over 150 hours of curriculum leveraging tools from TurboTax, QuickBooks, Credit Karma, and Mailchimp.

Intuit (INTU) has announced its upcoming annual stockholder meeting, scheduled to take place virtually on Thursday, January 23 at 8:00 AM Pacific time (11:00 AM Eastern time). During the meeting, CEO Sasan Goodarzi will present a review of the company's fiscal year 2024 results and outline the company's growth strategy. The meeting will be accessible via webcast on Intuit's investor relations website, with a replay available approximately 24 hours after the event concludes.

Intuit's 2025 QuickBooks Small Business Index Annual Report reveals significant challenges for US small businesses in 2024. Small business employment declined by 51,200 jobs, the largest drop since 2015, while average revenue fell by $11,850 per business - marking the third consecutive yearly decline.

The report highlights that high interest rates and credit access severely impacted growth, with affected businesses showing up to 30% lower revenue growth and 4% lower employment growth. Credit card usage as a primary financing source doubled from 25% to 50% between July 2023-2024, with interest payments rising 14% in 2024.

On a positive note, businesses utilizing eight or more digital tools reported stronger outcomes, with 67% seeing productivity gains and 45% reporting increased revenue, compared to significantly lower results for businesses using fewer digital tools.

Intuit TurboTax has announced new offerings for the 2024 tax season, including a groundbreaking guarantee to deliver federal tax refunds 5 days early to any U.S. bank account for a $25 fee. The company is also introducing the only free do-it-yourself mobile app offer for both federal and state tax filing, regardless of tax complexity, available through Feb. 18, 2025.

The company will continue offering its Refund Advance program, providing no-fee, no-interest loans up to $4,000 delivered within 60 seconds after IRS acceptance. For assisted filers using TurboTax Live Full Service, a minimum 10% reduction in fees compared to last year is guaranteed when filing by March 25, 2025.

According to TurboTax's generational tax survey, 93% of Gen Z expects a refund this year, with many planning to use it for necessities. Early access to funds would help them avoid debt fees (20%), pay rent on time (35%), and pay off debt (35%).

Intuit (NASDAQ: INTU) launched its TurboTax 'Now This Is Taxes' campaign, showcasing its AI-driven virtual expert platform for tax filing. The campaign highlights a modern, mobile-first, 'done-for-you' approach powered by over 12,000 tax experts enhanced with AI technology.

Key offerings include: free DIY tax filing through the TurboTax mobile app until Feb. 18, 2025, for new or returning customers; a guaranteed minimum 10% reduction in fees compared to previous tax professional costs for assisted filers using TurboTax Live Full Service (valid Jan. 15 - March 25, 2025); and tax completion in as little as two hours via mobile phone. The service includes features like effortless data import, faster refunds, and a Tax Return Lifetime Guarantee.

Intuit (NASDAQ: INTU) and ICIC announced the launch of the 'Intuit More with AI Tour', a free nationwide roadshow starting in early 2025 to educate small and mid-market businesses about AI adoption. The initiative will feature six half-day events across the United States, beginning in Georgia and California, offering practical AI implementation strategies and hands-on experience with various business tools.

The tour curriculum will be informed by ICIC's research on small business AI needs, with findings to be published in February 2025. The program aims to demystify AI, promote responsible use, and advocate for supportive policies. The initiative builds on Intuit's existing AI capabilities, including Intuit Assist, their generative AI-powered assistant launched in September 2023, which operates across TurboTax, Credit Karma, QuickBooks, and Mailchimp platforms.

Intuit QuickBooks has announced a multi-year partnership with the Professional Women’s Hockey League (PWHL) in Canada. This partnership positions Intuit QuickBooks as the league's Official Accounting Software Partner, aiming to connect with Canada's evolving small business population, especially women in business.

The PWHL provides a platform to promote equal opportunities for women, who face unique challenges in business ownership. Through this collaboration, Intuit QuickBooks aims to highlight the resilience and leadership of women in the Canadian business community.

A survey by Intuit QuickBooks revealed that Canadian women-owned businesses face more financial strain but pursue entrepreneurial success at the same rate as men. The partnership will feature:

• Showcasing stories of women-owned small businesses
• Custom content for hockey fans and entrepreneurs
• In-arena and at-home branding
• Opportunities for customer and employee engagement

Stay tuned for unique experiences throughout the 2024 and 2025 seasons.

Intuit (NASDAQ: INTU) and Amazon (NASDAQ: AMZN) have announced a multi-year strategic partnership aimed at empowering Amazon sellers with financial management solutions. QuickBooks will become Amazon's preferred partner for financial tools integrated directly into Amazon Seller Central.

The partnership will provide sellers with comprehensive financial management capabilities, including real-time financial updates, profitability insights, cash flow management, and tax estimates. Eligible Amazon sellers using QuickBooks will have access to personalized loans through QuickBooks Capital. According to Intuit, businesses using QuickBooks platform have a nearly 20-point higher success rate than those who don't.

The implementation will begin rolling out in mid-2025, initially focusing on U.S. sellers before expanding internationally.