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Intuit Inc. (INTU) is a leading American business software company based in Mountain View, California. Founded in the mid-1980s, Intuit specializes in providing financial software solutions that cater to small businesses, personal finance, and tax-filing needs. The company is currently helmed by CEO Sasan Goodarzi.
Intuit's flagship products include QuickBooks, which is widely recognized as the go-to accounting software for small businesses. QuickBooks helps manage expenses, track sales, and generate financial reports. For individuals, Intuit offers TurboTax, a popular do-it-yourself tax-filing software that simplifies the tax preparation process. Additionally, Intuit provides Lacerte, a professional tax software designed for tax professionals and accounting firms.
Intuit has a substantial market share in the U.S., particularly in the small-business accounting and tax-filing segments. The company's recent achievements include the continuous enhancement of its software offerings, incorporation of AI-driven features to improve user experience, and expansion of its cloud-based services. Intuit also engages in strategic partnerships and acquisitions to broaden its product portfolio and market reach.
The financial condition of Intuit remains robust, with consistent revenue growth and a strong balance sheet. The company's stock performance reflects its leadership in the financial software market and its ability to innovate and meet customer needs.
Intuit, the financial technology platform known for TurboTax, Credit Karma, QuickBooks, and Mailchimp, has launched the QuickBooks Grant Program as part of Small Business Success Month. This initiative will provide $200,000 in funding, awarding $10,000 each to 20 small business owners. The program aims to support small businesses with essential tools and resources to thrive. Applications are open from May 28 to June 30, 2024. Each recipient will also receive three months of mentorship, including access to webinars and digital tools like QuickBooks and Mailchimp. The initiative aims to address the ongoing challenge of capital access for small businesses amid economic uncertainties.
Intuit Inc. (NASDAQ: INTU) reported strong financial results for the third quarter of fiscal 2024, ending April 30. Total revenue grew by 12% to $6.7 billion, while operating income increased by 12% to $3.1 billion. Earnings per share (EPS) saw a rise of 14% to $8.42. Key segments driving growth included the Small Business and Self-Employed Group, with revenue up 18% to $2.4 billion, and the Consumer Group, which grew 9% to $3.7 billion. Credit Karma also contributed, with an 8% revenue increase to $443 million. Intuit raised its full-year revenue and EPS guidance, reflecting confidence in its AI-driven platform strategy.
CallRail has announced a new integration with Intuit Mailchimp, allowing users to leverage AI-powered conversation insights for personalized and timely follow-ups. This collaboration aims to bridge the gap between online and offline channels by utilizing lead attributes and AI-identified insights to engage customers more effectively. Businesses can now enhance customer experiences through automated email and SMS marketing based on call sentiment, custom tags, and anticipated customer value. This integration helps small business owners streamline customer interactions, save time, and increase lead conversions.
Intuit, the financial technology platform behind TurboTax, Credit Karma, QuickBooks, and Mailchimp, is awarding three small businesses $20,000 each as part of their Small Business Hero Day initiative. This celebration is part of Intuit’s Small Business Success Month in May. The three recognized businesses include The Elevation Project in Philadelphia, Elite Formation Studio of Dance in Northern Virginia, and Dig It! Coffee Co. in Las Vegas. These businesses were chosen for their significant impact on their communities, from supporting formerly incarcerated individuals to creating inclusive spaces for people of all abilities. According to Intuit QuickBooks data, 36% of small businesses help diversify their communities, and these awards aim to further support their vital contributions.
Intuit's survey also highlighted that 36% of small businesses consider $20,000 a important sum for covering immediate expenses or alleviating financial burdens, which underscores the importance of these awards. For more information, visit the full release on Business Wire.
Intuit, the global financial technology platform behind TurboTax and QuickBooks, appointed Vasant Prabhu, former CFO and Vice Chairman of Visa, to its board of directors. Prabhu's expertise in financial services and scaling businesses internationally will support Intuit's growth.
Intuit is celebrating its fourth annual Small Business Success Month in May, offering resources, tools, and funding to support small businesses. Activities include advocacy in Washington, D.C., a grant program, Small Business Hero Day, and prompt pay initiatives. Digital tools play a key role, with small businesses using technology to save time, increase accuracy, and connect with customers.
Intuit Inc. (Nasdaq: INTU) will announce its third-quarter fiscal year 2024 results on May 23. The company's financial technology platform includes TurboTax, Credit Karma, QuickBooks, and Mailchimp. Intuit executives will discuss the results in a conference call at 1:30 p.m. Pacific time on May 23, with the call available for replay.
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