Welcome to our dedicated page for Intuit news (Ticker: INTU), a resource for investors and traders seeking the latest updates and insights on Intuit stock.
Intuit Inc. reports company developments across its global financial technology platform, including TurboTax, Credit Karma, QuickBooks, Mailchimp and Intuit Enterprise Suite. News commonly covers tax preparation, consumer finance, small-business accounting, payroll, human capital management, marketing, and cloud-based ERP products for small and mid-market businesses.
Recurring updates include quarterly results by business area, AI-enabled product releases, instant-payment capabilities, partner and reseller relationships, conference appearances, dividends, share repurchases, and governance changes. Intuit’s announcements also describe how its platform connects tax, credit, banking, invoicing, payroll, accounting and marketing data across consumer and business workflows.
Intuit Inc. (NASDAQ: INTU) reiterated its fiscal year 2022 revenue guidance, expecting second quarter revenues of $2.660 billion to $2.665 billion, down from prior estimates. However, the Small Business and Self-Employed Group and Credit Karma are projected to achieve all-time high revenues. For the full fiscal year, revenue is anticipated to be between $12.165 billion and $12.300 billion, representing 26-28% growth, including Mailchimp since its acquisition. The company will release further details on February 24, 2022.
Intuit (NASDAQ: INTU) has announced the recipients of its QuickBooks Restaurant Relief Initiative grant program, providing $5,000 each to 20 small restaurants in the Atlanta area. The grants aim to support restaurants facing challenges such as labor shortages and supply chain issues, alongside a one-year free subscription to QuickBooks Online and Mailchimp. Monthly revenues for Atlanta's surviving restaurants grew 7% in September 2021 compared to September 2019, though smaller establishments with annual revenues under $250,000 are recovering more slowly.
Intuit (NASDAQ: INTU) will debut a 30-second ad featuring DJ Khaled during the Super Bowl on February 13, promoting QuickBooks and Mailchimp. This campaign, dubbed Early Start, aims to support new entrepreneurs by celebrating their emotional journey. The company also announced $25,000 grants for three Black-owned businesses in Los Angeles as part of their initiative to empower local communities. QuickBooks anticipates that 17 million new small businesses will be established in 2022, highlighting a growing market for their services.
TurboTax, a product from Intuit (NASDAQ: INTU), launched its new expert matching service during Super Bowl LVI. This AI-driven feature pairs users with tax experts tailored to their unique tax situations. The campaign, featuring Jason Sudeikis, includes a 45-second ad titled 'Matchmaker' that showcases various tax profiles. Digital extensions support the campaign, such as custom Tinder profiles for CPAs and a TikTok hashtag challenge. TurboTax aims to simplify tax season for individuals, enhancing user experience with personalized service.
Intuit Inc. (NASDAQ: INTU) will announce its second-quarter results for fiscal year 2022 on February 24, 2022, after market close. The second quarter concludes on January 31. Executives will discuss these results during a conference call at 1:30 p.m. Pacific time the same day. Interested parties can listen live via the Intuit Investor Relations website. A replay will be available for one week at specified phone numbers and online.
Intuit QuickBooks has launched two innovative financial products aimed at enhancing cash flow for small businesses: QuickBooks Get Paid Upfront and QuickBooks Early Pay. Get Paid Upfront allows eligible customers to access up to $30,000 against unpaid invoices, providing instant payment after a flat 3% fee. Early Pay enables employees to access their earnings before payday, helping them manage unexpected expenses. These offerings aim to improve financial flexibility for small businesses and their employees, reflecting Intuit's commitment to financial innovation.
Credit Karma Money has launched Credit Builder, a free, interest-free program designed for U.S. members with credit scores of 620 or below to help them build credit while saving money. Members set an initial savings goal of $500 and contribute towards it, with payments automatically reported to credit bureaus. Notably, Credit Builder does not charge monthly fees or have an APR, providing a low-risk opportunity for members to demonstrate responsible borrowing behavior.
Intuit Inc. (NASDAQ: INTU) will host its virtual annual stockholder meeting on January 20 at 8 a.m. Pacific Time. CEO Sasan Goodarzi will present the company’s fiscal year 2021 results and outline future growth strategies. The event will be accessible via webcast on Intuit's investor relations website, with a replay available 24 hours post-meeting. Intuit continues to serve over 100 million customers globally through its platforms like TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp.
Intuit (NASDAQ: INTU) has launched a new Bill Negotiation feature in Mint, allowing users to save money on monthly bills through a partnership with Billshark. This tool identifies potential savings opportunities across various services, including internet and phone bills, and connects users with Billshark to negotiate better rates on their behalf. With over 30 million Mint users, this feature aims to simplify the bill management process and has reportedly helped users save hundreds of dollars annually.
Intuit has launched a new integrated campaign for QuickBooks, targeting the projected 17 million small businesses expected to start in 2022. The "Early Start" campaign aims to support entrepreneurs by highlighting their stories and showcasing how QuickBooks can assist in managing essential business operations.
The campaign will feature candid ads across North America, educational resources from Dr. Sherry Walling, a comprehensive social media approach, and influencer activations. This initiative reflects Intuit's commitment to empowering small business owners from day one.