Goodarzi made his comments during the webcast for earnings for the second quarter ended January 31. He said one driver of the ability of Intuit to growth share is “the traction of TurboTax Live.” He continued, “We expect continued accelerated growth with TurboTax Live.”
It was a good quarter with Intuit reporting net income of $240 million, an increase of 27 percent from $189 million in last year’s corresponding period. Revenue for the most recently ended quarter rose 13 percent to slightly less than $1.7 billion, up from $1.5 billion.
Consumer revenue, primarily TurboTax software, reached $499 million, an increase of 8.2 percent from $461 million. ProTax revenue was $224.8 million for the period, also an 8 percent increase
QuickBooks Online continued strong growth with revenue of $330 million, increasing 42.9 percent from $231 million. QuickBooks Desktop revenue was $165 million, up 7.1 percent from $154 million.