Growth in the quarter was driven by the addition of Mailchimp, and growth in QuickBooks Online payroll and QuickBooks Online payments. Online services revenue grew 116 percent for the quarter and 107 percent for the year. Growth in the quarter was driven primarily by higher effective prices, customer growth, and mix shift. QuickBooks Online accounting revenue grew 34 percent for the quarter and 33 percent for the year. Snapshot of Fourth-quarter Fiscal Year 2022 Results More detail can be found on Form 8-K, filed with SEC on May 4, 2022. The charge impacted full year GAAP and non-GAAP earnings per share by approximately $0.37 and $0.38, respectively. This charge is reflected in the company’s GAAP and non-GAAP operating income, impacting growth by 6 and 4 points, respectively. See “About Non-GAAP Financial Measures” below for more information regarding financial measures not prepared in accordance with Generally Accepted Accounting Principles (GAAP).įiscal year 2022 full-year results include a $141 million one-time charge related to the company’s settlement with the attorneys general of the 50 states and the District of Columbia, entered into on May 4, 2022. Snapshot of Fiscal Year 2022 Full-year Resultsĭollars are in millions, except earnings per share. Unless otherwise noted, all growth rates refer to the current period versus the comparable prior-year period, and the business metrics and associated growth rates refer to worldwide business metrics. Reported Consumer Group revenue of $145 million, compared to $852 million in the prior year, reflecting the earlier tax filing deadline this year. Grew Credit Karma revenue 17 percent to $475 million. Excluding Mailchimp revenue of $265 million, Small Business and Self-Employed Group revenue grew by 20 percent and Online Ecosystem revenue grew by 32 percent. Increased Small Business and Self-Employed Group revenue 41 percent to $1.8 billion and Online Ecosystem revenue by 66 percent. Excluding Mailchimp, total revenue declined 16 percent. Reported total revenue of $2.4 billion, down 6 percent, reflecting the earlier IRS tax filing deadline this year, partially offset by the addition of Mailchimp. Reported GAAP earnings per share declined by 4 percent and non-GAAP earnings per share grew 22 percent. Reported Non-GAAP operating income of $4.5 billion, up 29 percent. Reported GAAP operating income of $2.6 billion, up 3 percent. Increased Credit Karma revenue to $1.8 billion. Grew Consumer Group revenue 10 percent to $3.9 billion. Excluding Mailchimp revenue of $762 million, Small Business and Self-Employed Group revenue grew by 22 percent and Online Ecosystem revenue grew by 34 percent. Grew Small Business and Self-Employed Group revenue 38 percent and Online Ecosystem revenue 61 percent. This includes 11 points from the addition of Mailchimp. Increased combined Platform revenue, which includes the Small Business and Self-Employed Group Online Ecosystem, TurboTax Online and Credit Karma, 45 percent to $9.6 billion. Grew total revenue to $12.7 billion, up 32 percent year-over-year, including 8 points from the addition of Mailchimp. "Our platform and offerings are mission-critical for consumers and small businesses, and we are proud that Intuit is the platform of choice for over 100 million customers around the world."įor the full year, including the addition of Mailchimp beginning November 1, Intuit: We're more confident than ever in our long-term business strategy as we power prosperity around the world," said Sasan Goodarzi, Intuit's chief executive officer. "We had a very strong fourth quarter, ending the year with momentum. (Nasdaq: INTU), the global technology platform behind TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp, announced financial results for the fourth quarter and full fiscal year 2022, which ended July 31, 2022. Full year revenue grew 32 percent, 24 percent excluding Mailchimp
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