Intuit Stock Price, News & Analysis

Intuit Inc. (NASDAQ: INTU) announced the launch of its Climate Action Marketplace aimed at helping 1 million small businesses in the US and UK reduce their carbon emissions by 50% by 2030. This online platform offers various climate-friendly solutions from 12 initial providers across multiple sectors, enabling businesses to implement sustainable practices without additional costs. The initiative aligns with the global United Nations Race to Zero campaign, emphasizing the role of small businesses in addressing climate change.

Intuit has completed its acquisition of Mailchimp for approximately $5.7 billion in cash and $6.3 billion in stock, enhancing its customer growth platform for small and mid-market businesses. The merger aims to address significant challenges faced by these businesses, such as customer acquisition and retention. With over 400,000 customer contacts already imported into Mailchimp, the deeper integration with QuickBooks is expected to provide robust marketing tools and insights, helping businesses grow post-COVID.

Intuit Inc. (NASDAQ: INTU) will announce its first-quarter results for fiscal year 2022 on November 18, 2021, after market close. The quarter ends on October 31. Intuit will host a conference call at 1:30 p.m. Pacific Time on the same day to discuss the financial results, which will be accessible via a live audio webcast and subsequently available for replay. Serving approximately 100 million customers, Intuit is a global technology platform providing services like TurboTax, QuickBooks, Mint, and Credit Karma.

Intuit has launched Money by QuickBooks, a mobile app designed for early-stage small business owners to manage finances effectively. This free app, available on iOS and Android, allows users to accept payments, track expenses, and manage cash flow seamlessly. The app features debit card and bill payment capabilities, same-day deposits, and FDIC insurance for up to $250,000. It aims to meet the needs of a growing number of small businesses emerging post-pandemic, emphasizing timely payments and enhanced financial visibility.

Intuit (Nasdaq: INTU) announces the launch of the second cohort of the Intuit Prosperity Accelerator: AI in Toronto. Seven AI-focused startups from major cities like San Francisco and New York will join the five-month program aimed at leveraging AI for consumer and small business solutions. This initiative follows the recent introduction of Intuit Ventures, marking an evolution in Intuit's strategy to foster innovation and support early-stage companies.

Intuit reaffirmed its financial guidance for Q1 and FY 2022 at its virtual Investor Day. The company anticipates Q1 revenue growth of 36-38% and GAAP EPS between $0.14 to $0.19, with full FY revenue projected at $11.050 billion to $11.200 billion, representing 15-16% growth. Operating income is expected to be $2.605 billion to $2.680 billion, with a modest growth of 4-7%. Non-GAAP diluted EPS is forecasted at $11.05 to $11.25, indicating a growth of 13-16%. Segment revenue growth is expected for the Small Business and Self-Employed Group (12-14%) and Consumer Group (10-11%).

Intuit Inc. (NASDAQ: INTU) has launched Intuit Ventures, a corporate venture capital program focused on investing in series B and C-stage tech startups. The initiative aims to accelerate innovation in fintech, AI, and omni-channel commerce, enhancing solutions for small businesses and consumers. The first investment has been made in Clearco, which provides non-dilutive capital to digital businesses. This move aligns with Intuit's mission to empower entrepreneurs and create solutions that address critical financial challenges.