Intuit Stock Price, News & Analysis

Intuit Inc. (Nasdaq: INTU), the global financial technology platform behind TurboTax, Credit Karma, QuickBooks, and Mailchimp, has announced that CEO Sasan Goodarzi will present at the Goldman Sachs Communacopia & Technology Conference on September 11, 2024. The fireside chat is scheduled for 1:45 p.m. Pacific Time (4:45 p.m. Eastern Time).

Investors and interested parties can access a live audio webcast of the presentation through Intuit's investor relations website. A replay of the webcast will be made available approximately 24 hours after the presentation concludes, providing an opportunity for those unable to attend the live event to catch up on the insights shared.

Intuit has announced major enhancements to its proprietary Generative AI Operating System (GenOS), accelerating development velocity across its products and services. The upgraded GenOS now includes:

1. GenOS AI Workbench: A dedicated development environment for end-to-end application development.

2. Enhancements to GenStudio, GenRuntime, and GenUX components.

These improvements aim to streamline AI-powered application development, enabling rapid experimentation and innovation for Intuit's 100 million customers. The system provides a comprehensive suite of tools, including an extensible catalog of large language models (LLMs) and built-in governance and safety guardrails.

Since its introduction in June 2023, GenOS has enabled Intuit technologists to experiment with hundreds of GenAI use cases, leading to new experiences like Intuit Assist across its product lineup.

Intuit (Nasdaq: INTU) announced that Marianna Tessel, executive vice president and general manager of Intuit's Global Business Solutions Group, will present at the Citi 2024 Global TMT Conference on September 4, 2024. The fireside chat is scheduled for 12:00 p.m. Pacific Time (3:00 p.m. Eastern Time).

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

Education at Work and Intuit (Nasdaq: INTU) have partnered to launch a pilot program offering college students valuable experience in tax, accounting, and financial services while helping them pay for college. The program, starting in fall 2024, will involve up to 60 undergraduate students from Arizona State University working part-time in Intuit's TurboTax business, with the potential to earn up to $5,250 in tuition assistance.

This initiative addresses the critical shortage of certified tax and accounting professionals, strengthening Intuit's talent pipeline. The program aligns with the growing demand for tax and accounting professionals, as highlighted by U.S. Bureau of Labor Statistics research. Education at Work's track record shows participating students are 25% more likely to graduate and do so with 40% less student debt compared to their peers.

Intuit Inc. (Nasdaq: INTU) reported strong financial results for Q4 and fiscal year 2024. Full-year revenue grew 13% to $16.3 billion, with Small Business and Self-Employed Group revenue up 19%. The company's AI-driven expert platform strategy showed progress, positioning it for future growth. Key highlights include:

- Combined platform revenue increased 14% to $12.5 billion
- Consumer Group revenue grew 7% to $4.4 billion
- Credit Karma revenue rose 5% to $1.7 billion
- GAAP EPS increased 24% to $10.43
- Non-GAAP EPS grew 18% to $16.94

Intuit also announced a 16% increase in quarterly dividend and a new $3.0 billion stock repurchase authorization.

A new survey by Intuit QuickBooks and Allstate Health Solutions reveals the critical role of healthcare benefits in employee retention and hiring. 78% of employees would seek new employment if their benefits package was inadequate. The survey, involving 1,000 employees from small and large businesses, found that healthcare benefits rank second only to salary when considering job offers.

Key findings include:

• 23% of employees struggle to afford employer-provided benefits
• 71% of workers at small companies and 63% at large companies face challenges saving long-term due to medical costs
• 60% of employees desire a range of benefits options
• Over 90% of employees link job satisfaction to benefits

The survey highlights the importance of competitive, affordable benefits packages in today's tight labor market.

Intuit Inc. (Nasdaq: INTU), the global financial technology platform behind TurboTax, Credit Karma, QuickBooks, and Mailchimp, has announced key dates for investors. The company will release its fourth-quarter and full-year fiscal 2024 financial results on August 22, after market close. A conference call to discuss these results is scheduled for 1:30 p.m. Pacific time on the same day.

Additionally, Intuit will host its annual Investor Day on September 26 at 8:00 a.m. Pacific time at its Mountain View headquarters. This half-day event will feature presentations from CEO Sasan Goodarzi, CFO Sandeep Aujla, and other company leaders. Both the financial results conference call and the Investor Day can be accessed live via Intuit's investor relations website.

Intuit Inc. (Nasdaq: INTU) has appointed Forrest Norrod, executive vice president and general manager of AMD's Data Center Solutions Business, to its board of directors. This strategic move aims to accelerate Intuit's AI innovation and support its goal of becoming a global AI-driven expert platform.

Norrod brings over 30 years of technology industry experience, including deep expertise in AI, GenAI, data, and engineering. His appointment expands Intuit's board to 13 directors. CEO Sasan Goodarzi emphasized the significance of the AI revolution and Intuit's commitment to leveraging AI to benefit consumers and small businesses.

At AMD, Norrod has played a important role in driving the company's data center growth and open AI ecosystem strategy. His experience and 11 US patents in computer architecture, graphics, and system design are expected to contribute significantly to Intuit's future developments and mission.

A new Intuit QuickBooks survey reveals the top concern for accounting professionals is failing to keep up with technological advancements, overshadowing worries about higher interest rates, rising costs, and hiring challenges. The 2024 survey of 700 U.S. accountants highlights the critical role of technology in meeting client expectations and improving operational efficiency, with 93% believing that tech adoption helps firms survive economic uncertainties. Accountants plan to invest an average of $24,000 in tech over the next year. Additionally, 98% of respondents have used AI to assist clients and firm operations, and over half plan to expand AI and automation tool investments. Despite economic instability, 82% of accountants expected business growth in 2023, though 63% reported profit losses due to higher costs and interest rates in 2024. The survey underscores the continuous evolution of the accounting industry and the necessity of tech adoption for future success.