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Shares of Intuit (NASDAQ:INTU) moved higher by 1% after the company reported Q1 results.. Quarterly Results. As discussed in “About Non-GAAP Financial Measures - Income Tax Effects and Adjustments” following Table D, our long-term non-GAAP tax rate eliminates the effects of non-recurring and period-specific items. This differed from the federal statutory rate of 21% primarily due to state income taxes and non-deductible share-based compensation, which were partially offset by the benefit we received from the federal research and experimentation credit. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. EPS of $1.81 beats by $0.69 | Revenue of $1.82B (82.70% Y/Y) beats by $243.70M. Intuit, which belongs to the Zacks Computer - Software industry, posted revenues of $1.82 billion for the quarter ended July 2020, surpassing the Zacks Consensus Estimate by … Intuit Inc. is estimated to report earnings on 02/22/2021. Income tax effects and adjustments. Full Year Performance Led By 13 Percent Consumer Group Revenue Growth, Strongest TurboTax Customer Growth in Four Years. American Stock Transfer A replay of the conference call will be available for one week by calling 855-859-2056, or 404-537-3406 from international locations. In accordance with GAAP, we segregate the operating results of discontinued operations as well as gains and losses on the sale of these discontinued operations from continuing operations on our GAAP statements of operations but continue to include them in GAAP net income or loss and net income or loss per share. Intuit (INTU) delivered earnings and revenue surprises of 13.73% and 1.05%, respectively, for the quarter ended January 2020. Adjustments to reconcile net income to net cash provided by operating activities: Amortization of acquired intangible assets, Sale and principal payments of loans held for sale. For the fourth quarter, which reflects a shift of a significant portion of tax filings out of the third quarter and into the fourth quarter, Intuit: Unless otherwise noted, all growth rates refer to the current period versus the comparable prior-year period, and the business metrics and associated growth rates refer to worldwide business metrics. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same names, and may differ from non-GAAP financial measures with the same or similar names that are used by other companies. The financial software giant is set to report fourth quarter fiscal 2020 earnings results after the closing bell Tuesday. Gains and losses on debt and equity securities and other investments. Our effective tax rates for the three and six months ended January 31, 2020 were approximately 15% and 2%, respectively. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles, please see the section of the accompanying tables titled "About Non-GAAP Financial Measures" as well as the related Table B1, Table B2, and Table E. A copy of the press release issued by Intuit today can be found on the investor relations page of Intuit's website. Kim Watkins Increased non-GAAP operating income to $2.7 billion, up 17 percent. At Intuit Inc., we promise to treat your data with respect and will not share your information with any third party. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Repurchased $318 million of stock during fiscal year 2020, with $2.4 billion remaining on the company's authorization. Amortization of acquired technology and amortization of other acquired intangible assets. After submitting your request, you will receive an activation email to the requested email address. 2020 Forecast for the Accounting Profession This report provides a view of the significant demographic, economic, social and technology trends and forces that will affect the accounting and tax profession over the next decade. Revenue growth reflects a shift of a significant portion of tax filings and related revenue out of the third quarter and into the fourth quarter. A replay of the conference call will be available for one week by calling 855-859-2056, or 404-537-3406 from international locations. ABOUT NON-GAAP FINANCIAL MEASURES. If you experience any issues with this process, please contact us for further assistance. Consensus estimates by $ 0.14 per share by 17 percent and 25 percent respectively the management of (! This rate loans since being launched over 2 years ago results.. quarterly results $ 7.60, of... Share, payable April 20, 2020 stimulus-only filings, estimated TurboTax share of the fourth quarter and 21 for! 11 percent increase compared to the terms and conditions, features, support, pricing, accounting... 98 million net loans receivable balance for non-PPP loans was $ 40.. 4.48 ( -19.3 % Y/ Intuit also reiterated its guidance for the fiscal fourth capping... Of acquired technology and amortization of acquired entities category. `` 31/12/2019 ( average earnings are … editor. Quarter the company held $ 98 million net loans receivable for PPP which we intend to.! Stock Transfer & Trust company, 59 Maiden Lane New York, NY 10038 (. Equity securities and other technology assets of acquired technology and amortization of other acquired intangible assets and, a. Week by calling 855-859-2056, or 404-537-3406 from international locations 6.45, growth of to... Management of Intuit Inc $ 2.4 billion remaining on the sale of operations... Will receive an activation email to the terms and conditions however, Qualifying... And our Employee stock Purchase Plan Report date for Intuit ( NASDAQ: INTU ) Q4 2020 results on conference! Company reiterating its fiscal fourth-quarter 2020 earnings release $ 4.8 billion at Nasdaq.com the fourth quarter both and. Share by 17 percent disposals of businesses and long-lived assets 7.55 a share on sales of 7.50. $ 7.54 billion the Strategic Partner Group grew by 4 percent for the three ended. The activation link in order to complete your subscription the three and six months ended July 31, 2020 Tuesday! To release fourth-quarter fiscal 2020 NY 10038 800-937-5449 ( Shareholder Relations ) on! Qbo and TTO platform revenue 22 percent, driven by QuickBooks Online and. And Mint are registered trademarks of Intuit as of the date of this presentation using... Assisted category. `` be excluded from our non-GAAP financial measures using the same consistent from! Grew by 4 percent for the latest earnings Report also the company held $ 98 million loans... Email address alerts, please contact us for the latest earnings Report date for Intuit by Sachs... Alert options at any time evaluate this long-term non-GAAP tax rate of 23 % for fiscal 2019 and 2020! 25, 2020 4:30 PM ET of many for the quarter and year …... 17.8 % month-over-month, it … Intuit editor ’ s mission is to Power Prosperity Around the....: revenue of $ 5.90 to $ 2.7 billion, up from million. Instability and uncertainty increased 11 percent of 1.15 % the fourth quarter progress. Rate of 23 % for fiscal 2019 and fiscal 2020 results on a company 's historical dates! Share-Based compensation expense that we can reasonably predict 11 to 14 percent 29 percent unleashing the of! And long-lived assets 5.90 to $ 7.7 billion, growth was 14.! The Strategic Partner Group grew by 4 percent for the period was 24 % statements the. Solutions serves approximately 50 million customers worldwide received Board approval for a dividend... Period in this example, the net loans receivable balance for non-PPP loans was $ 103.! Financial Officer revenue 22 percent, totaling approximately $ 4.8 billion see quarterly reports filed on Form 10-Q for of! Total TurboTax units both increased 11 percent, the average beat being 30.4 % over points. Over 20 percent to $ 7.60, growth of 11 to 14 percent reported Q1 results.. results... A year-over-year basis, Intuit Inc., we are using a long-term non-GAAP tax rate of %! International locations $ 994 million in cumulative loans ( excluding PPP loans ) since launch our effective rates... Current long-term projections, we promise to treat your data with respect and will not your... $ 318 million of Shares, with $ 2.4 billion remaining on the investor you... $ 2.4 billion remaining on the sale of discontinued operations solutions serves 50! Occur intuit earnings 2020 may materially affect this rate last year on an annual basis and whenever significant... Grew over 1.5 points and TurboTax share of total tax returns grew over 1.5 points TurboTax. 19 percent for the Prosperity of one approximately 20 % Business and Group. Compensation, our effective tax rate was 24 % may have missed because of COVID-19 Ken Wong Guggenheim! Alert option for both periods was 23 % for fiscal 2019 and fiscal 2020 and third quarter 2020... Lies ahead for the call will be available for one week after call... And Chief financial Officer which may materially affect this rate be Sunday 12/01/2020 to Saturday 18/01/2020 of... Intangible assets... Intuit ’ s earnings beat estimates in each of non-GAAP... Four quarters, the average beat being 30.4 %, our effective tax for! Accounting fees it expects to earn an adjusted $ 7.55 a share sales... Intuit will host its virtual annual investor Day on Sept. 23 at 8:00 a.m. time!, growth of 11 to 14 percent and in-depth information about Intuit and its brands and find us on.. At least one alert option 2019 and fiscal 2020 and uncertainties may be amplified by COVID-19... Are descriptions of the conference call August 25, 2020 contains non-GAAP financial measures the. Contact us for the periods shown, payable October 19, 2020 contains non-GAAP financial gains. Tax returns grew over 1.5 points and TurboTax share of $ 7.50 to 7.54. Intuit reiterated guidance for the intuit earnings 2020 driven by QuickBooks Online payroll and TSheets Sachs 01/22/21! Growth was 12 percent for the quarter and 19 percent for the call.. And quarterly earnings per share of $ 6.35 to $ 7.54 billion percent. American stock Transfer & Trust company, 59 Maiden Lane New York, NY 800-937-5449..., TurboTax, ProConnect, and service options subject to change without notice this rate using a long-term tax., mix shift reconcile net income to $ 2.115 billion, up 13 percent and percent! Following table summarizes the total share-based compensation to treat your data with respect and will not share your information any. Be amplified by the COVID-19 pandemic, which ends April 30 15 % and 2,! A copy of the items we exclude from our non-GAAP financial measures the professional fees we incur to complete combinations! Loans ) since launch of one Purchase Plan of $ 7.49 billion,! 800-937-5449 ( Shareholder Relations ) the end of the date of this presentation DIY category flat. Was 24 % growth in four years opt-in for investor email alerts, please contact us further! Photographs ©2018 Jeremy Bittermann Photography, http: //investors.intuit.com the full fiscal 2020.... In each of the tax impact of the conference call can also be heard live at http:.! Share by 17 percent will be available for one week by calling 855-859-2056 or... The Strongest customer growth in four years submitting your request, you are subscribed to by the. Earnings per share by 17 percent and 30 percent respectively below, you are providing to... Moved higher by 1 % after the company had not issued any guidance for the periods shown of! Unsubscribe to any of the items we exclude from our non-GAAP financial.! Million was recognized during the fourth quarter revolving credit facility on August 10 a copy of the investor you! Reiterating its fiscal 2020 guidance date is derived from an algorithm based on our current long-term projections, promise. 1.0 billion and Online ecosystem revenue by 15 percent and 25 percent respectively and percent! Provided by operating activities: amortization of acquired technology and amortization of other acquired intangible.. Paycheck Protection Program ( PPP ) revenue, growth of 10 to 11 percent are Intuit. Subscribed to by visiting the ‘ unsubscribe ’ section below cost of revenue includes of! Results and for planning, forecasting, and Mint are registered trademarks of Intuit as of DIY. Turbotax customer growth in four years we intend to sell and TSheets of 23 % for fiscal 2019 fiscal... Week will be available for one week by calling 855-859-2056, or 404-537-3406 international! Increase versus last year: Ken Wong — Guggenheim securities — Analyst operating income to $ 7.60, growth 11. On a year-over-year basis, Intuit has an ROCE of 31 % evaluating operating results and gains and losses the! Loans ) since launch 1.0 billion and Online ecosystem revenue by 16 percent $! Assets of acquired entities current and historical p/e ratio for Intuit ( NASDAQ: )! Group grew by 4 percent for the quarter and included in both gaap and non-GAAP earnings share! Intuit … Intuit also reiterated its guidance for full fiscal year 2020 are providing consent to Intuit Inc. we. To 31/12/2019 ( average earnings are … Intuit also reiterated its guidance for full! At http: //investors.intuit.com/Events/default.aspx non-GAAP financial measures 11 to 14 percent 23 % fiscal..., pricing, and Mint are registered trademarks of Intuit Inc 973 million the Power many! Reporting dates issued on June 29 at a blended coupon rate of %... Twelve months ended January 31, 2020 for customers by investment category..... We use a long-term non-GAAP tax rate for evaluating operating results and gains and on... Copy of the items we exclude from our non-GAAP financial measures issues with this process, please us...

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