Summary
Intuit Inc. reported a strong second quarter for fiscal year 2012, with total net revenue increasing by 16% year-over-year to $1.019 billion. This growth was primarily driven by a significant 44% increase in the Consumer Tax segment, largely due to the strong performance of TurboTax Online, and an 11% increase in the Small Business Group. The company's operating income saw a substantial 73% surge to $192 million, reflecting effective cost management alongside revenue growth. Diluted net income per share rose 70% to $0.39, indicating improved profitability. For the first six months of fiscal year 2012, Intuit demonstrated continued momentum with a 14% increase in total net revenue to $1.613 billion and a dramatic 1,300% rise in operating income to $98 million, resulting in a net income of $54 million compared to $3 million in the prior year. This performance highlights the company's ability to leverage its seasonal tax business strength and the consistent growth in its small business offerings. Intuit also continues its commitment to returning capital to shareholders, with active stock repurchase programs and ongoing dividend payments.
Financial Highlights
51 data points| Revenue | $884.00M |
| Cost of Revenue | $166.00M |
| Gross Profit | $718.00M |
| R&D Expenses | $164.00M |
| Operating Expenses | $634.00M |
| Operating Income | $84.00M |
| Interest Expense | $15.00M |
| Net Income | $71.00M |
| EPS (Basic) | $0.24 |
| EPS (Diluted) | $0.23 |
| Shares Outstanding (Basic) | 297.00M |
| Shares Outstanding (Diluted) | 306.00M |
Key Highlights
- 1Total net revenue for Q2 FY12 increased 16% to $1.019 billion, driven by strong performance in Consumer Tax and Small Business segments.
- 2Consumer Tax revenue surged 44% in Q2 FY12, primarily due to a 39% growth in TurboTax Online federal units.
- 3Operating income increased significantly by 73% in Q2 FY12 to $192 million, indicating effective cost control and operational leverage.
- 4Diluted net income per share grew 70% to $0.39 in Q2 FY12, reflecting improved profitability.
- 5For the first six months of FY12, net income reached $54 million, a substantial increase from $3 million in the prior year's period.
- 6The company repurchased approximately 6.2 million shares of common stock in the first three months of 2012 under its authorized repurchase programs.
- 7Intuit declared and paid a quarterly cash dividend of $0.15 per share in Q2 FY12 and a new $500 million credit facility was established, expiring in 2017.