“We are investing in scaling our full-service offering, which has good product market fit based on the highest Product Recommendation Scores of any product at Intuit this year,” Goodarzi said.
He also expects, “a large runway ahead of us with TurboTax Live given our ability to use both GenAI and human experts powered by AI to deliver confidence for our customers. Intuit does not disclose actual revenue for the Live program with the number of customers increasing by 12 percent.
Meanwhile, the number of TurboTax units sold in the United States dropped 5 percent for the year ended July 31, including declines in both desktop and online units year-over year.
Intuit said it believes this stemmed from taxpayers who filed returns in order to receive pandemic stimulus and tax credits but did not file taxes this season.
Total units fell to 40.5 million for fiscal 2023 from 42.7 million units the prior year. Desktop units fell 6 percent to 4.5 million from 4.7 million while online units dropped to 40.5 million, down 6 percent from 42.7 million.