In this week’s earnings webcast, the company said the factors behind the increase stemmed from subscriber growth, higher effective prices and mix-shift.

Meanwhile, growth continued with QuickBooks desktop revenue which rose 16.9 percent to $312 million in the most recently ended period from $267 million a year ago. That category continued to be driven by sales of the desktop mid-market product, QuickBooks Enterprise. Intuit said its revenue grew by “mid-single digits”, a figure that has also described growth in past quarter.

The one dampening note was a drop in revenue of Credit Karma in the fast of rising interest rates and credit tightening in the general economy. For the most recently ended quarter, Credit Karma revenue reached $425 million, an increase of 1.6 percent from $418 million a year ago,

Credit Karma revenue was lower than expended and Intuit reduced its guidance of that business for fiscal 2023 to a 10-percent to 15-percent decline, in place of 10 percent to 15 percent growth.

For the quarter, Intuit reported net income of $40 million, down sharply from $228 million in last year’s corresponding period. Contributing to that drop was $49 million in interest expenses, as opposed to $7 million a year earlier,

The company had $2.6 billion in revenue for the quarter, a 24.9-percent increase from slightly more than $2 billion.