What was Intuit's revenue performance in Q3 FY18?

For the third quarter of fiscal year 2018, Intuit reported total net revenue of $2.925 billion, a 15% increase compared to $2.541 billion in the same period of fiscal year 2017. This growth was driven by strong performance across its key segments, particularly the Small Business & Self-Employed and Consumer segments.

How did the Tax Cuts and Jobs Act impact Intuit's financial results?

The Tax Cuts and Jobs Act, enacted in December 2017, led to a reduction in the U.S. statutory federal corporate tax rate. This resulted in a lower effective tax rate for Intuit in the reported periods. For the nine months ended April 30, 2018, Intuit recorded a provisional charge of $44 million related to the re-measurement of deferred tax balances due to the Act. Despite this charge, the overall impact of the lower tax rate contributed positively to net income.

What is the current status of Intuit's share repurchase program?

Intuit continued its share repurchase program during the nine months ended April 30, 2018, repurchasing 1.9 million shares for $272 million. At April 30, 2018, the company had an additional authorization of up to $1.2 billion for future stock repurchases, indicating a continued commitment to returning capital to shareholders.

How is Intuit's Small Business & Self-Employed segment performing?

The Small Business & Self-Employed segment demonstrated robust growth, with total segment revenue increasing by 16% to $759 million in the third quarter and by 17% to $2.189 billion for the first nine months of fiscal 2018 compared to the prior year. This growth was primarily fueled by the strong performance of its Online Ecosystem, with QuickBooks Online subscribers growing by 45% year-over-year.

INTU 10-Q Quarterly Report Q3 FY2018 — Revenue, Net Income, EPS

Summary

Intuit Inc. reported strong financial results for the third quarter and first nine months of fiscal year 2018, demonstrating robust revenue growth and significant increases in profitability. Total net revenue grew by 15% year-over-year for both the quarter and the year-to-date period, driven by solid performance in its key segments: Small Business & Self-Employed and Consumer. The company's strategic shift towards connected services, particularly its Online Ecosystem, is yielding positive results, with the Small Business & Self-Employed segment showing notable revenue expansion. Net income saw substantial year-over-year growth, up 24% for the quarter and 23% year-to-date, supported by increased revenue and a favorable impact from the Tax Cuts and Jobs Act, which lowered the effective tax rate. Diluted earnings per share also increased significantly, reflecting the company's strong operational performance and efficient management. Intuit continues to return value to shareholders through share repurchases and dividends, maintaining a healthy cash position and liquidity.

Financial Highlights

55 data points

Beta

Revenue

$2.91B

0.9% Gross Margin

Net Income

$1.19B

0.4% Net Margin

EPS (Diluted)

$4.53

Total Assets

$5.79B

Cash & Equivalents

$1.61B

Free Cash Flow

$1.96B

Financial Statements

Beta

Revenue	$2.91B
Cost of Revenue	$305.00M
Gross Profit	$2.61B
R&D Expenses	$296.00M
Operating Expenses	$1.01B
Operating Income	$1.60B
Interest Expense	$5.00M
Net Income	$1.19B
EPS (Basic)	$4.62
EPS (Diluted)	$4.53
Shares Outstanding (Basic)	257.00M
Shares Outstanding (Diluted)	262.00M

Key Highlights

1Total net revenue increased by 15% to $2.925 billion for the three months ended April 30, 2018, and by 15% to $4.976 billion for the nine months ended April 30, 2018, compared to the prior year periods.
2Net income rose significantly, up 24% to $1.200 billion for the quarter and 23% to $1.162 billion year-to-date, demonstrating strong bottom-line growth.
3Diluted earnings per share (EPS) increased by 24% to $4.59 for the quarter and by 23% to $4.47 year-to-date, indicating enhanced shareholder value.
4The Small Business & Self-Employed segment revenue grew by 16% in the quarter and 17% year-to-date, driven by strong performance in the Online Ecosystem, with QuickBooks Online subscribers up 45%.
5The Consumer segment revenue increased by 15% in the quarter and 14% year-to-date, benefiting from higher average revenue per customer and growth in TurboTax units.
6Operating income showed healthy growth, up 12% for both the quarter and year-to-date period, reflecting efficient operations and revenue expansion.
7The company maintained a strong liquidity position, with cash, cash equivalents, and investments totaling $1.9 billion at April 30, 2018, and continued to actively engage in share repurchases and dividend payments.

INTUIT INC. Quarterly Report for Q3 Ended Apr 30, 2018

Summary

Financial Highlights

Key Highlights

Frequently Asked Questions