Summary
Intuit Inc. reported its first quarter fiscal year 2018 results, showcasing a 14% increase in total net revenue to $886 million compared to the same period last year. This growth was primarily driven by a strong performance in the Small Business & Self-Employed segment, which saw a 17% revenue increase, notably from its Online Ecosystem. Despite the revenue growth, the company reported a net loss of $17 million, or $0.07 per share, which was an improvement from the $30 million net loss in the prior year. This loss is partly attributed to the seasonal nature of the Consumer segment and increased operating expenses, including investments in staffing, marketing, and share-based compensation. Cash flow from operations remained negative at $(78) million, though this was an improvement from $(205) million in the prior year. The company continues to manage its liquidity through borrowings under its credit facilities and maintains a significant authorization for stock repurchases and dividend payments, signaling a commitment to returning capital to shareholders. Management remains focused on its 'One Intuit Ecosystem' strategy, emphasizing personalized experiences, a trusted open platform, and indispensable connections to drive future growth.
Financial Highlights
53 data points| Revenue | $910.00M |
| Cost of Revenue | $198.00M |
| Gross Profit | $712.00M |
| R&D Expenses | $293.00M |
| Operating Expenses | $747.00M |
| Operating Income | -$35.00M |
| Interest Expense | $5.00M |
| Net Income | -$2.00M |
| EPS (Basic) | $-0.01 |
| EPS (Diluted) | $-0.01 |
| Shares Outstanding (Basic) | 256.00M |
| Shares Outstanding (Diluted) | 256.00M |
Key Highlights
- 1Total net revenue increased by 14% year-over-year to $886 million.
- 2The Small Business & Self-Employed segment was a key growth driver, with revenue up 17% driven by the Online Ecosystem.
- 3Net loss improved significantly to $17 million ($0.07 per share) from $30 million ($0.12 per share) in the prior year's quarter.
- 4Operating expenses increased by 14%, driven by higher spending on staffing, marketing, and share-based compensation.
- 5Cash flow from operations was $(78) million, an improvement from $(205) million in Q1 FY2017.
- 6Intuit repurchased approximately 1.2 million shares for $170 million during the quarter and has $1.4 billion remaining under its stock repurchase authorization.
- 7The company declared a quarterly cash dividend of $0.39 per share.