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Intuit posts stable This autumn outcomes with 41% income progress

Intuit on Tuesday revealed better-than-expected fourth quarter monetary outcomes.

Non-GAAP earnings per share got here to $1.97. Income was $2.56 billion, up 41% from $1.eight billion within the prior 12 months, together with the addition of Credit score Karma. 

Analysts have been on the lookout for earnings of $1.68 per share on income of $2.32 billion. 

“We had a really sturdy fourth quarter capping off an excellent fiscal 2021,” CEO Sasan Goodarzi mentioned in a press release. “Our momentum continues throughout the corporate with accelerated innovation targeted on our prospects’ most vital wants whereas creating sturdy progress alternatives for Intuit sooner or later.” 

For the total 12 months, Intuit reported earnings per share of $9.74 and complete income to $9.6 billion, up 25% year-over-year.

The corporate’s This autumn Shopper Group income got here to $852 million, in comparison with $710 million within the prior 12 months. For the total 12 months, Shopper Group income grew 14 % to $3.6 billion.

Small Enterprise and Self-Employed Group income grew by 19% to $1.Three billion in This autumn. For the total 12 months, it grew 16 %.  

Throughout the Small Enterprise and Self-Employed Group, QuickBooks On-line accounting income grew 28% for the quarter and 25% for the 12 months. Progress was pushed primarily by buyer progress, combine shift, and better efficient costs.

On-line providers income grew 35% for the quarter and 27% for the 12 months. Progress was pushed by QuickBooks On-line funds and QuickBooks On-line payroll.

The Paycheck Safety Program (PPP) generated non-recurring income of $four million and $20 million in fourth quarter and financial 2021, respectively, and $30 million in every of the fourth quarter and financial 2020.

Credit score Karma income in This autumn got here to $405 million, a quarterly file for the enterprise. Each the core verticals (together with bank cards and private loans) and progress verticals (together with house and auto loans and insurance coverage) noticed file excessive income within the quarter. For the total 12 months, Credit score Karma income was $865 million.

For the primary quarter of FY 2022, Intuit expects income progress of roughly 36% to 38%. For the total fiscal 12 months 2022, the corporate expects income of $11.05 billion to $11.2 billion, progress of roughly 15% to 16%.

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