Intuit Inc - INTU STOCK NEWS

Intuit (NASDAQ: INTU) announced that Michelle Clatterbuck, Chief Financial Officer, will participate in a fireside chat at the Nasdaq Virtual Investor Conference on Tuesday, November 30, starting at 9:00 a.m. PDT / 12:00 p.m. EDT. The event will be accessible via live audio webcast on Intuit's investor relations website, with a replay available 24 hours post-event. Intuit serves over 100 million customers globally with products like TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp.

Intuit Inc. (Nasdaq: INTU) reported strong financial results for Q1 FY2022, with total revenue surging to $2.0 billion, up 52% from $1.3 billion the previous year. The growth includes a record $418 million in revenue from Credit Karma. Boosting its fiscal guidance, Intuit anticipates annual revenue growth of 26-28%, up from earlier estimates of 15-16%. The strong performance is driven by a 22% increase in Small Business and Self-Employed Group revenue and a 36% rise in Online Ecosystem revenue. Additionally, Intuit announced a quarterly dividend increase of 15% to $0.68 per share.

Intuit has announced that Suzanne Nora Johnson will take over as the new Chair of the Board following the Annual Meeting of Shareholders in January 2022. She succeeds Brad Smith, who will step down as Executive Chairman, a role he has held since January 2019. Johnson, an independent board member since 2007, has significant financial sector experience, including her role as Vice Chairman at Goldman Sachs. Smith will remain on the board as a non-executive director.

Intuit has announced a $100,000 grant program in partnership with the Georgia Restaurant Association to support small restaurants in the Atlanta metro area. The QuickBooks Restaurant Relief Initiative will provide $5,000 grants to restaurants with annual net revenues below $250,000. This initiative aims to help struggling restaurants cover payroll and operating expenses as they continue recovering from pandemic-related challenges. Recipients will also receive free subscriptions to QuickBooks and Mailchimp.

Intuit Inc. (NASDAQ: INTU) has launched The Path to Advisory, a free online guide aimed at helping tax firms transition from compliance to advisory services. This guide consolidates insights from Intuit Tax Council Members and offers actionable steps for tax professionals. A recent survey indicated that 74% of tax firms provide advisory services, yet only 62% profit from them. The guide includes valuable resources, including testimonials, pricing strategies, and task lists to enhance client relationships and operational efficiency in tax services.

Intuit Inc. (NASDAQ: INTU) announced the launch of its Climate Action Marketplace aimed at helping 1 million small businesses in the US and UK reduce their carbon emissions by 50% by 2030. This online platform offers various climate-friendly solutions from 12 initial providers across multiple sectors, enabling businesses to implement sustainable practices without additional costs. The initiative aligns with the global United Nations Race to Zero campaign, emphasizing the role of small businesses in addressing climate change.

Intuit has completed its acquisition of Mailchimp for approximately $5.7 billion in cash and $6.3 billion in stock, enhancing its customer growth platform for small and mid-market businesses. The merger aims to address significant challenges faced by these businesses, such as customer acquisition and retention. With over 400,000 customer contacts already imported into Mailchimp, the deeper integration with QuickBooks is expected to provide robust marketing tools and insights, helping businesses grow post-COVID.

Intuit Inc. (NASDAQ: INTU) will announce its first-quarter results for fiscal year 2022 on November 18, 2021, after market close. The quarter ends on October 31. Intuit will host a conference call at 1:30 p.m. Pacific Time on the same day to discuss the financial results, which will be accessible via a live audio webcast and subsequently available for replay. Serving approximately 100 million customers, Intuit is a global technology platform providing services like TurboTax, QuickBooks, Mint, and Credit Karma.