Intuit Stock Price, News & Analysis

Intuit unveiled new innovations at Intuit Connect conference, focusing on AI-driven solutions for accounting professionals and businesses. Key announcements include the Intuit Enterprise Suite, enhanced AI capabilities in QuickBooks and Mailchimp, and improved payroll solutions. The company introduced Intuit Assist, a GenAI-powered financial assistant, and expanded QuickBooks Live services. Notable updates include AI-accounting automation, new payroll features, and a reimagined ProAdvisor training program. The innovations aim to help businesses increase revenue and improve profitability through automated processes and enhanced customer engagement tools.

A new Intuit QuickBooks report reveals that consumer holiday spending is projected to reach $211 billion, a 34% year-over-year decrease due to rising costs and inflationary pressures. Small businesses project 33% of their total yearly revenue from seasonal shopping this year, with 61% saying holiday revenue is key to their success.

Despite the expected downturn, 93% of consumers plan to shop small this season, representing a $76 billion opportunity for small businesses. Consumers are expected to spend an average of $294 at small businesses, down 40% from last year.

To maximize revenue potential, QuickBooks and Mailchimp recommend small businesses offer targeted discounts, focus on marketing via email and in-store promotions, leverage social media platforms, use AI for targeted campaigns and inventory management, and ensure inventory availability before peak shopping days like Black Friday and Small Business Saturday.

Intuit Inc. (Nasdaq: INTU) unveiled new AI-powered innovations at its Investor Day 2024, focusing on delivering seamless, done-for-you experiences for consumers and businesses. The company is integrating TurboTax and Credit Karma into a single consumer financial platform, offering year-round insights and recommendations. For businesses, Intuit is connecting QuickBooks and Mailchimp with AI-powered automations to help customers grow while reducing manual work.

Key innovations include:

• Personalized Financial Summary for Credit Karma members
• Seamless tax filing experience within the Credit Karma app
• AI-generated business insights and automations in QuickBooks
• TurboTax Live enhancements for faster, more personalized tax preparation

These innovations are powered by Intuit Assist, the company's generative AI-powered financial assistant, aiming to provide customers with complete confidence in their financial decisions.

Intuit Inc. (Nasdaq: INTU) reaffirmed its financial guidance for Q1 and FY2025 during its Investor Day. The company expects:

- FY2025 revenue of $18.160B to $18.347B, growth of 12-13%
- FY2025 GAAP operating income of $4.649B to $4.724B, growth of 28-30%
- FY2025 Non-GAAP operating income of $7.241B to $7.316B, growth of 13-14%
- FY2025 GAAP EPS of $12.34 to $12.54, growth of 18-20%
- FY2025 Non-GAAP EPS of $19.16 to $19.36, growth of 13-14%

For Q1 FY2025, Intuit expects revenue growth of 5-6%. The company also provided segment revenue growth projections for FY2025, highlighting its AI-driven expert platform strategy.

Intuit Inc. (Nasdaq: INTU) is pioneering a done-for-you future with agentic AI, developed using its proprietary Generative AI Operating System (GenOS). These new systems will automate tasks for consumers and businesses, complemented by AI-driven insights and expert support. Initial capabilities will be available starting in December, with additional use cases rolling out throughout 2025.

Key agentic AI applications include:

• Automating cash flow management tasks
• Streamlining small business customer onboarding
• Blending developer expertise with AI for tax code updates
• Providing personalized answers and insights

Intuit's GenOS, built over the past 15 months, combines the GenRuntime framework and custom-trained financial large language models to power these agentic workflows. The company emphasizes its commitment to data privacy, security, and responsible AI governance in developing these innovations.

Intuit Inc. (Nasdaq: INTU) has unveiled the Intuit Enterprise Suite, a comprehensive solution for mid-market businesses. This integrated financial product suite is designed to enhance productivity and profitability for growing companies, particularly those with multi-entity, service, and project-based operations. Key features include:

- AI-powered financial management and accounting
- Industry-specific project performance tracking
- Customer engagement tools via Mailchimp integration
- Robust payroll and HRIS capabilities
- Streamlined payment and bill management
- Access to specialized services and experts

The suite aims to address the $89 billion total addressable market of larger, mid-market businesses with complex needs. It offers a scalable, integrated solution to reduce manual tasks, boost automation, and provide actionable insights for faster decision-making.

Intuit (Nasdaq: INTU), the global financial technology platform behind TurboTax, Credit Karma, QuickBooks, and Mailchimp, has announced its annual Investor Day for September 26, 2024. The event will take place at the company's headquarters in Mountain View, CA, starting at 8:00 a.m. Pacific Time.

CEO Sasan Goodarzi and CFO Sandeep Aujla, along with other business leaders, will present Intuit's strategy for fiscal year 2025 (August 1, 2024 to July 31, 2025). The half-day event will be accessible via a live webcast on Intuit's investor relations website. A replay will be available approximately three hours after the event concludes.

Intuit Inc. (Nasdaq: INTU), the global financial technology platform behind TurboTax, Credit Karma, QuickBooks, and Mailchimp, has announced that CEO Sasan Goodarzi will present at the Goldman Sachs Communacopia & Technology Conference on September 11, 2024. The fireside chat is scheduled for 1:45 p.m. Pacific Time (4:45 p.m. Eastern Time).

Investors and interested parties can access a live audio webcast of the presentation through Intuit's investor relations website. A replay of the webcast will be made available approximately 24 hours after the presentation concludes, providing an opportunity for those unable to attend the live event to catch up on the insights shared.

Intuit has announced major enhancements to its proprietary Generative AI Operating System (GenOS), accelerating development velocity across its products and services. The upgraded GenOS now includes:

1. GenOS AI Workbench: A dedicated development environment for end-to-end application development.

2. Enhancements to GenStudio, GenRuntime, and GenUX components.

These improvements aim to streamline AI-powered application development, enabling rapid experimentation and innovation for Intuit's 100 million customers. The system provides a comprehensive suite of tools, including an extensible catalog of large language models (LLMs) and built-in governance and safety guardrails.

Since its introduction in June 2023, GenOS has enabled Intuit technologists to experiment with hundreds of GenAI use cases, leading to new experiences like Intuit Assist across its product lineup.