Summary
Intuit Inc. reported revenue of $923 million for the three months ended January 31, 2016, a 23% increase year-over-year, driven by strong performance in its Consumer Tax and Small Business segments. For the six months ended January 31, 2016, total net revenue grew 20% to $1.6 billion. The company shifted from reporting a net loss to a net income of $24 million for the quarter, with a net loss of $7 million for the six-month period. This improvement is attributed to increased revenue and effective cost management, though higher operating expenses, particularly in selling and marketing and R&D, were noted. The company also continued its aggressive share repurchase program, demonstrating a commitment to returning capital to shareholders.
Financial Highlights
54 data pointsBeta
Financial Statements
Beta
| Revenue | $923.00M |
| Cost of Revenue | $199.00M |
| Gross Profit | $724.00M |
| R&D Expenses | $205.00M |
| Operating Expenses | $682.00M |
| Operating Income | $42.00M |
| Interest Expense | $9.00M |
| Net Income | $24.00M |
| EPS (Basic) | $0.09 |
| EPS (Diluted) | $0.09 |
| Shares Outstanding (Basic) | 263.00M |
| Shares Outstanding (Diluted) | 266.00M |
Key Highlights
- 1Total net revenue for the second quarter of fiscal 2016 increased by 23% to $923 million compared to the prior year, signaling robust top-line growth.
- 2For the six-month period, net revenue saw a 20% increase, reaching $1.6 billion, indicating sustained business momentum.
- 3The company reported a net income of $24 million for the three months ended January 31, 2016, a significant improvement from a net loss of $66 million in the same period last year.
- 4Consumer Tax segment revenue grew 29% year-over-year in the quarter, bolstered by strong TurboTax Online performance and an earlier tax filing season start.
- 5Small Business segment revenue increased by 7% in the quarter, driven by growth in QuickBooks Online and online payroll services.
- 6Intuit repurchased approximately 4.77 million shares for $455 million during the quarter, underscoring its commitment to shareholder returns through its stock repurchase program.
- 7The company has successfully managed its operating expenses, with total operating expenses as a percentage of total net revenue decreasing to 74% in the quarter from 87% in the prior year.