Intuit said total net revenue for Q3 of fiscal 2024 increased $719 million (12%), operating income increased $327 million (12%), and net income increased $302 million (14%) from the same period a year earlier. Diluted net income per share was $8.42, compared with $7.38 a year earlier.

1. 01

   Intuit said total net revenue for Q3 of fiscal 2024 increased $719 million (12%), operating income increased $327 million (12%), and net income increased $302 million (14%) from the same period a year earlier. Diluted net income per share was $8.42, compared with $7.38 a year earlier.

2. 02

   The company said Small Business & Self-Employed segment revenue rose $366 million (18%) in Q3, and that $286 million of the increase came from Online Ecosystem revenue. It cited customer growth, higher effective prices, and a shift in mix to higher-priced offerings as factors behind the increase in QuickBooks Online Accounting revenue.

3. 03

   Credit Karma segment revenue increased $33 million (8%) in Q3, the company said, but segment operating income decreased $1 million (1%). It said Consumer segment revenue rose $325 million (8%) for the 9 months to date, and Consumer segment operating income increased $84 million (3%).

4. 04

   Intuit said cash, cash equivalents, and investments totaled $4.7 billion as of April 30, 2024, an increase of $1.0 billion from July 31, 2023. The company said it issued $4 billion of senior unsecured notes in September 2023 and used the proceeds to repay its term loan. As of April 30, 2024, $2.1 billion remained under its share repurchase authorization.

Key figures

Quarter ended April 30, 2024

Revenue

$6.7B

Operating income

$3.1B

Net income

$2.4B

EPS

$8.42

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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