Intuit Inc - INTU STOCK NEWS

Intuit (Nasdaq: INTU) has announced that CFO Sandeep Aujla will participate in the UBS Global Technology Conference on December 3, 2024. The fireside chat presentation is scheduled for 9:55 a.m. Pacific Time (12:55 p.m. Eastern Time). Investors and interested parties can access the live audio webcast through Intuit's investor relations website. A replay will be made available approximately 24 hours after the presentation concludes.

Intuit (Nasdaq: INTU) has announced its upcoming annual Investor Day, scheduled for September 18, 2025, at its Mountain View, CA headquarters. The half-day event will feature presentations from senior company leaders and will be accessible via live stream through the company's investor relations website. Intuit operates as a global financial technology platform known for its flagship products including TurboTax, Credit Karma, QuickBooks, and Mailchimp.

Intuit (INTU) reported strong Q1 FY2025 results with total revenue growing 10% to $3.3 billion. The Global Business Solutions Group revenue increased 9% to $2.5 billion, with Online Ecosystem revenue up 20% to $1.9 billion. Credit Karma revenue grew 29% to $524 million. Consumer Group revenue declined 6% to $176 million. The company reported GAAP earnings per share of $0.70, down 18%, and non-GAAP EPS of $2.50, up 1%. Intuit maintained its full-year guidance, expressing confidence in delivering double-digit revenue growth and margin expansion for fiscal 2025.

Intuit has launched Intuit Assist for QuickBooks, a generative AI-powered financial assistant aimed at transforming how businesses operate. The new tool provides automated 'done-for-you' experiences, helping businesses generate estimates, invoices, bills, and payment reminders automatically. Key features include converting conversations and documents into business documents, generating smart invoice reminders, and automating bookkeeping tasks.

The AI assistant has shown significant results, helping businesses get paid 45% faster (average 5 days sooner), with overdue invoices being 10% more likely to be paid in full. The system is now available to QuickBooks Online customers in the U.S., offering seamless integration across Intuit's platform including TurboTax, Credit Karma, and Mailchimp.

Intuit Mailchimp has released 'The Revenue Blueprint' report, based on a global survey of 2,000+ marketing leaders. The study categorizes marketers into three groups: Baseline Marketers, Performance-Obsessed Marketers, and Revenue Leaders. Key findings reveal that 74% of marketers use AI, with Revenue Leaders showing more effective AI implementation. The report identifies four important pillars: email marketing (cited by 87% of Performance-Obsessed Marketers as top awareness channel), automation (89% of Revenue Leaders automate entire customer journey), data-powered personalization (64% of Revenue Leaders use customer data platforms), and AI investment for business outcomes.

Intuit (INTU) has launched QuickBooks Sole Trader in the UK, a cloud-based tax and accounts solution designed for sole traders with annual income under £90,000. The AI-powered platform helps manage receipts, mileage, expenses, bank transactions, and invoices in one place, while simplifying income tax preparation. The launch aligns with the UK's Making Tax Digital (MTD) mandate, which will require digital record-keeping for those earning over £50,000 from April 2026, and those earning over £30,000 from April 2027. The solution features AI-driven automation, mobile access, construction industry capabilities, and accountant collaboration tools.

Intuit (Nasdaq: INTU) announced it will release its first-quarter fiscal year 2025 financial results on November 21 after market close. The company will host a conference call at 1:30 p.m. Pacific time to discuss the results. The call will be accessible live at the investor relations website, with prepared remarks available afterward. A replay will be available for one week via phone and on the company's website.

Intuit unveiled new innovations at Intuit Connect conference, focusing on AI-driven solutions for accounting professionals and businesses. Key announcements include the Intuit Enterprise Suite, enhanced AI capabilities in QuickBooks and Mailchimp, and improved payroll solutions. The company introduced Intuit Assist, a GenAI-powered financial assistant, and expanded QuickBooks Live services. Notable updates include AI-accounting automation, new payroll features, and a reimagined ProAdvisor training program. The innovations aim to help businesses increase revenue and improve profitability through automated processes and enhanced customer engagement tools.

A new Intuit QuickBooks report reveals that consumer holiday spending is projected to reach $211 billion, a 34% year-over-year decrease due to rising costs and inflationary pressures. Small businesses project 33% of their total yearly revenue from seasonal shopping this year, with 61% saying holiday revenue is key to their success.

Despite the expected downturn, 93% of consumers plan to shop small this season, representing a $76 billion opportunity for small businesses. Consumers are expected to spend an average of $294 at small businesses, down 40% from last year.

To maximize revenue potential, QuickBooks and Mailchimp recommend small businesses offer targeted discounts, focus on marketing via email and in-store promotions, leverage social media platforms, use AI for targeted campaigns and inventory management, and ensure inventory availability before peak shopping days like Black Friday and Small Business Saturday.