Brad Smith, IntuitIntuit registered strong revenue growth for the second quarter ended January 31. The company lost $20 million for the most recently ended period, compared to net income of $13 million a year earlier. But since the second quarter does not reflect much of tax season, it is typically not one of the strongest periods for the year.

“We have come out of the gate strong,” CEO Brad Smith said during a recent earnings webcast.

Revenue reached $1.17 billion, up 14.7 percent from slightly more than $1 billion in last year’s corresponding quarter.

The two major segments of Intuit’s operations both produced double-digit growth. The SMB and Self-employed division reported $736 million in revenue for the quarter, rising 19.1 percent from $618 million in the second quarter of fiscal 2017. The consumer business had revenue of $334 million, rising 11.7 percent from $299 million the prior year.

Last modified on Friday, 02 March 2018
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