Intuit said total net revenue for the Q2 quarter of fiscal 2024 increased $345 million, or 11%, from the same quarter a year earlier. It said operating income rose $99 million, or 37%, and net income rose $185 million, or 110%. Diluted net income per share was $1.25, compared with $0.60 a year earlier.

1. 01

   Intuit said total net revenue for the Q2 quarter of fiscal 2024 increased $345 million, or 11%, from the same quarter a year earlier. It said operating income rose $99 million, or 37%, and net income rose $185 million, or 110%. Diluted net income per share was $1.25, compared with $0.60 a year earlier.

2. 02

   The company said Small Business & Self-Employed segment revenue rose $348 million, or 18%, in Q2 of fiscal 2024, and $704 million, or 18%, over the 6 months to date. It cited growth in Online Ecosystem revenue as the main driver for both periods.

3. 03

   The company said it recorded tax expense of $1 million on pre-tax income of $354 million for the 3 months ended January 31, 2024. It said it recognized excess tax benefits from share-based compensation of $56 million in its provision for income taxes over the same period.

4. 04

   The company said cash, cash equivalents and investments totaled $1.5 billion as of January 31, 2024, down $2.2 billion from July 31, 2023. It said that on September 2023, it issued $4 billion of senior unsecured notes and used the proceeds, together with operating cash, to repay the outstanding balance of its term loan.

Key figures

Quarter ended January 31, 2024

Revenue

$3.4B

Operating income

$369M

Net income

$353M

EPS

$1.25

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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