Intuit Inc - INTU STOCK NEWS

Intuit's 2025 QuickBooks Small Business Index Annual Report reveals significant challenges for US small businesses in 2024. Small business employment declined by 51,200 jobs, the largest drop since 2015, while average revenue fell by $11,850 per business - marking the third consecutive yearly decline.

The report highlights that high interest rates and credit access severely impacted growth, with affected businesses showing up to 30% lower revenue growth and 4% lower employment growth. Credit card usage as a primary financing source doubled from 25% to 50% between July 2023-2024, with interest payments rising 14% in 2024.

On a positive note, businesses utilizing eight or more digital tools reported stronger outcomes, with 67% seeing productivity gains and 45% reporting increased revenue, compared to significantly lower results for businesses using fewer digital tools.

Intuit TurboTax has announced new offerings for the 2024 tax season, including a groundbreaking guarantee to deliver federal tax refunds 5 days early to any U.S. bank account for a $25 fee. The company is also introducing the only free do-it-yourself mobile app offer for both federal and state tax filing, regardless of tax complexity, available through Feb. 18, 2025.

The company will continue offering its Refund Advance program, providing no-fee, no-interest loans up to $4,000 delivered within 60 seconds after IRS acceptance. For assisted filers using TurboTax Live Full Service, a minimum 10% reduction in fees compared to last year is guaranteed when filing by March 25, 2025.

According to TurboTax's generational tax survey, 93% of Gen Z expects a refund this year, with many planning to use it for necessities. Early access to funds would help them avoid debt fees (20%), pay rent on time (35%), and pay off debt (35%).

Intuit (NASDAQ: INTU) launched its TurboTax 'Now This Is Taxes' campaign, showcasing its AI-driven virtual expert platform for tax filing. The campaign highlights a modern, mobile-first, 'done-for-you' approach powered by over 12,000 tax experts enhanced with AI technology.

Key offerings include: free DIY tax filing through the TurboTax mobile app until Feb. 18, 2025, for new or returning customers; a guaranteed minimum 10% reduction in fees compared to previous tax professional costs for assisted filers using TurboTax Live Full Service (valid Jan. 15 - March 25, 2025); and tax completion in as little as two hours via mobile phone. The service includes features like effortless data import, faster refunds, and a Tax Return Lifetime Guarantee.

Intuit (NASDAQ: INTU) and ICIC announced the launch of the 'Intuit More with AI Tour', a free nationwide roadshow starting in early 2025 to educate small and mid-market businesses about AI adoption. The initiative will feature six half-day events across the United States, beginning in Georgia and California, offering practical AI implementation strategies and hands-on experience with various business tools.

The tour curriculum will be informed by ICIC's research on small business AI needs, with findings to be published in February 2025. The program aims to demystify AI, promote responsible use, and advocate for supportive policies. The initiative builds on Intuit's existing AI capabilities, including Intuit Assist, their generative AI-powered assistant launched in September 2023, which operates across TurboTax, Credit Karma, QuickBooks, and Mailchimp platforms.

Intuit QuickBooks has announced a multi-year partnership with the Professional Women’s Hockey League (PWHL) in Canada. This partnership positions Intuit QuickBooks as the league's Official Accounting Software Partner, aiming to connect with Canada's evolving small business population, especially women in business.

The PWHL provides a platform to promote equal opportunities for women, who face unique challenges in business ownership. Through this collaboration, Intuit QuickBooks aims to highlight the resilience and leadership of women in the Canadian business community.

A survey by Intuit QuickBooks revealed that Canadian women-owned businesses face more financial strain but pursue entrepreneurial success at the same rate as men. The partnership will feature:

• Showcasing stories of women-owned small businesses
• Custom content for hockey fans and entrepreneurs
• In-arena and at-home branding
• Opportunities for customer and employee engagement

Stay tuned for unique experiences throughout the 2024 and 2025 seasons.

Intuit (NASDAQ: INTU) and Amazon (NASDAQ: AMZN) have announced a multi-year strategic partnership aimed at empowering Amazon sellers with financial management solutions. QuickBooks will become Amazon's preferred partner for financial tools integrated directly into Amazon Seller Central.

The partnership will provide sellers with comprehensive financial management capabilities, including real-time financial updates, profitability insights, cash flow management, and tax estimates. Eligible Amazon sellers using QuickBooks will have access to personalized loans through QuickBooks Capital. According to Intuit, businesses using QuickBooks platform have a nearly 20-point higher success rate than those who don't.

The implementation will begin rolling out in mid-2025, initially focusing on U.S. sellers before expanding internationally.

Intuit has announced enhanced AI-driven tax filing solutions for 2024, featuring personalized 'done-for-you' experiences through TurboTax, Credit Karma, and QuickBooks. The platform connects customers with a nationwide network of 12,000 tax experts, offering tax preparation in as little as two hours.

Key innovations include AI-powered expert matching, real-time progress tracking, and automated document import from over 350 financial institutions. The system offers upfront pricing transparency and guarantees maximum refunds. New features include year-round tax insights through Credit Karma, refund advances up to $4,000, and early refund access through Credit Karma Money.

The service launches December 5, 2024, in English and Spanish, with Credit Karma tax filing products available in January 2025. Business tax filers receive 20% off personal taxes and a 30-day QuickBooks Online trial starting January 2025.

Intuit (INTU) has announced that Marianna Tessel, executive vice president and general manager of the Global Business Solutions Group, will be presenting at the Barclays 22nd Annual Global Technology Conference on December 11, 2024.

The presentation will take place at 1:20 PM Pacific Time (4:20 PM Eastern Time) and will be accessible through a live audio webcast on Intuit's investor relations website. A replay will be made available approximately 24 hours after the presentation concludes.

Intuit (Nasdaq: INTU) has announced that CEO Sasan Goodarzi will participate in a fireside chat at the Nasdaq 51st Investor Conference on December 10, 2024. The presentation is scheduled for 5:00 a.m. Pacific Time (1:00 p.m. Greenwich Mean Time).

The event will be accessible through a live audio webcast on Intuit's investor relations website. A replay will become available approximately 24 hours after the presentation concludes. Intuit is a global financial technology platform known for products including TurboTax, Credit Karma, QuickBooks, and Mailchimp.