Summary
Intuit Inc.'s 2008 10-K filing reveals a company focused on its core offerings in small business and personal finance software, including TurboTax and Quicken, alongside its burgeoning small business solutions. The company highlighted its consistent revenue growth, driven by strong performance in its key product lines and strategic acquisitions. Despite a generally positive outlook, Intuit acknowledged the inherent risks associated with the software industry, including intense competition, rapid technological changes, and potential economic downturns that could impact consumer and small business spending.
Financial Highlights
33 data pointsBeta
Financial Statements
Beta
| Revenue | $2.99B |
| Cost of Revenue | $154.00M |
| Gross Profit | $2.84B |
| R&D Expenses | $593.00M |
| Operating Expenses | $2.35B |
| Operating Income | $644.00M |
| Interest Expense | $52.00M |
| Net Income | $477.00M |
| EPS (Basic) | $1.45 |
| EPS (Diluted) | $1.41 |
| Shares Outstanding (Basic) | 329.00M |
| Shares Outstanding (Diluted) | 339.00M |
Key Highlights
- 1Strong revenue growth driven by core products like TurboTax and Quicken, and expansion in small business solutions.
- 2Successful integration of strategic acquisitions contributing to overall financial performance.
- 3Continued investment in research and development to maintain product innovation and competitive edge.
- 4Focus on expanding its market reach, particularly within the small business sector.
- 5Acknowledgment of risks related to economic conditions, competition, and technological advancements.
- 6Robust financial position with sufficient liquidity to fund operations and strategic initiatives.
Frequently Asked Questions
Intuit's primary revenue drivers were its flagship personal finance software, TurboTax and Quicken, and its growing suite of small business solutions. The company continued to see strong demand for these products, bolstered by strategic acquisitions and product enhancements.
Intuit identified several key risks, including intense competition in the software market, the rapid pace of technological change requiring continuous innovation, potential economic downturns affecting consumer and small business spending, and the risks associated with integrating acquired businesses.
While the filing does not detail specific acquisitions in the provided excerpt, it mentions strategic acquisitions as a contributing factor to financial performance, indicating that the company was actively pursuing inorganic growth opportunities.
Intuit is positioned to address future market challenges through ongoing investment in research and development to ensure product innovation, a continued focus on expanding its small business offerings, and maintaining a strong financial position to support its strategic initiatives and weather economic fluctuations.