Intuit has announced their financial results for their first quarter of 2014, ending 10/31/2013; including the following highlights:
- Increased revenue 11 percent, to $622 million.
- Reiterated guidance for second-quarter revenue, with a range of $890 million to $910 million, and full fiscal year revenue guidance of $4.440 billion to $4.525 billion, with growth of 6 to 8 percent.
- Completed three talent and technology acquisitions for a total of approximately $65 million. These acquisitions are expected to add value across Intuit’s businesses.
- Entered into an accelerated share repurchase agreement to buy back $1.4 billion in shares.
Some noted business segment highlights included:
Delivered 11 percent higher revenue in the Small Business segment, driven by increased adoption of cloud solutions in which QuickBooks Online subscribers reached 516,000.
Increased Professional Tax segment revenues by 16 percent.
Grew Consumer Tax segment revenues by 11 percent despite it being a seasonally light quarter.
Brad Smith, Intuit’s president and chief executive officer said, "We are out of the gate strong in the first quarter, led by the rapid adoption of QuickBooks Online, which is accelerating our transition to the cloud and driving value for Intuit...”.1
You will find more details about Intuit's first quarter (2014) financials at: Intuit First-quarter Revenue Increases 11 Percent (1-source)