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Intuit: TurboTax Live Up 70 Percent

Intuit expects that customer growth for TurboTax for the third quarter ended April 30 will be more than 70 percent higher than a year ago. The company also said that business for growth of QuickBooks Online in this country is above pre-pandemic levels.

 The company made the statement as it update its guidance for the quarter, which will be reported on May 25.

TurboTax Live enables customers to ask a professional preparer a question by initiating the session from with the software. The company also this year launched TurboTax Live Full Service, which provides fully assisted preparation. There has been no analysis by there appears to be growth in efiles submitted by tax professionals, according to statistics released by the Internal Revenue Service.o

However, the extension of the tax 2012 filing deadline to May 17 will reduce revenue expected for the third quarter, although that will shift  into the fourth quarter.

Intuit expects third-quarter revenue to range from $4.165 billion to $4.170 billion from a prior guidance range of $4.605 billion to $4.655 billion. 

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Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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