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 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.
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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.
Intuit has entered a 23-year partnership with the LA Clippers, becoming the naming rights partner of the 'Intuit Dome', set to open in Inglewood, California, for the 2024-2025 NBA season. The partnership aims to enhance fan experiences through innovative technology and support the local community with economic initiatives. Intuit commits $1 million to underserved schools, offers taxpayer assistance for low-income families, and hosts entrepreneurial workshops. The Clippers have pledged a substantial community benefits package, generating an estimated $260 million in annual economic activity.
Intuit has announced its acquisition of Mailchimp for approximately $12 billion in cash and stock, aiming to enhance its customer growth platform for small and mid-market businesses. This strategic move supports Intuit's vision of becoming an AI-driven expert platform and aims to tackle significant barriers faced by small businesses, such as customer acquisition and cash flow challenges. The deal is anticipated to be accretive to Intuit's non-GAAP earnings per share for fiscal 2022, with completion expected before the end of Q2 2022, pending regulatory approvals.
Intuit Inc. (NASDAQ: INTU) will host its virtual annual Investor Day on September 30, 2021, at 8:00 a.m. Pacific time. CEO Sasan Goodarzi and CFO Michelle Clatterbuck, along with other business leaders, will discuss the company's strategy for fiscal year 2022, which runs from August 1, 2021, to July 31, 2022. The event will be broadcast live and available for later viewing on Intuit's website. This platform serves approximately 100 million customers worldwide with products like TurboTax, QuickBooks, Mint, and Credit Karma.