Summary
Intuit Inc. reported solid financial results for the nine months ended April 30, 2012, demonstrating revenue growth driven by its Small Business Group and Consumer Tax segments. Total net revenue increased by 9% year-over-year, reaching $3.6 billion, while operating income saw a 13% rise. This growth translated into a 14% increase in net income and a notable 19% surge in diluted earnings per share to $2.58, reflecting both improved profitability and a reduction in outstanding shares. The company maintained a strong financial position, ending the period with $1.5 billion in cash, cash equivalents, and investments. Intuit continued to actively return capital to shareholders through significant stock repurchases totaling $793 million for the nine-month period, alongside consistent quarterly dividend payments. The company also made a strategic acquisition of Demandforce, Inc. for approximately $423.5 million, further strengthening its Small Business Group offerings. Despite ongoing litigation and a competitive market landscape, Intuit's financial performance and capital allocation strategies indicate a positive trajectory.
Financial Highlights
52 data points| Revenue | $2.09B |
| Cost of Revenue | $145.00M |
| Gross Profit | $1.95B |
| R&D Expenses | $163.00M |
| Operating Expenses | $664.00M |
| Operating Income | $1.28B |
| Interest Expense | $12.00M |
| Net Income | $822.00M |
| EPS (Basic) | $2.77 |
| EPS (Diluted) | $2.71 |
| Shares Outstanding (Basic) | 295.00M |
| Shares Outstanding (Diluted) | 303.00M |
Key Highlights
- 1Total net revenue for the nine months ended April 30, 2012, increased by 9% to $3.6 billion, driven by strong performance in the Small Business Group and Consumer Tax segments.
- 2Diluted net income per share saw a significant increase of 19% to $2.58 for the nine-month period, benefiting from both net income growth and a reduced share count.
- 3The company generated $1.4 billion in cash from operating activities for the nine months ended April 30, 2012, underscoring its strong operational cash flow.
- 4Intuit repurchased $793 million worth of its common stock during the first nine months of fiscal 2012, demonstrating a commitment to returning capital to shareholders.
- 5A $500 million unsecured revolving credit facility was secured in February 2012, providing financial flexibility for general corporate purposes and potential future acquisitions.
- 6The company acquired Demandforce, Inc. for approximately $423.5 million in May 2012, enhancing its Financial Management Solutions segment.
- 7Intuit continues to pay quarterly cash dividends of $0.15 per share, reflecting consistent shareholder returns.