AI English summary of an SEC filing — figures as filed
Intuit INTUThe company said total net revenue rose $1.9 billion (13%) in fiscal 2024 from 2023, operating income rose $489 million (16%), and net income rose $579 million (24%). Diluted net income per share was $10.43.
Key points
AI summaryThe company said total net revenue rose $1.9 billion (13%) in fiscal 2024 from 2023, operating income rose $489 million (16%), and net income rose $579 million (24%). Diluted net income per share was $10.43.
Intuit said Small Business & Self-Employed segment revenue rose $1.5 billion (19%) and Consumer segment revenue rose $310 million (7%) in fiscal 2024. The company cited growth in Online Ecosystem revenue as the driver of the Small Business & Self-Employed increase.
The company said it approved a reorganization plan (the Plan) in July 2024 to reallocate resources to its key growth areas, with estimated restructuring costs of about $247 million. It said it recognized $223 million of costs over the 12 months ended July 31, 2024, primarily related to severance and employee benefits.
Intuit said it generated $4.9 billion of cash from operating activities in fiscal 2024, and used $2.0 billion for share repurchases and $1.0 billion for cash dividend payments. As of July 31, 2024, cash, cash equivalents and investments totaled $4.1 billion.
Key figures
Fiscal year ended July 31, 2024
- Revenue
- $16.3B
- Operating income
- $3.6B
- Net income
- $3.0B
- EPS
- $10.43
- Operating cash flow
- $4.9B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis 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.
Fiscal 2024 Revenue, Operating Income and Net Income Changes
The company said total net revenue rose $1.9 billion (13%) in fiscal 2024 from 2023, operating income rose $489 million (16%), and net income rose $579 million (24%). Diluted net income per share was $10.43.
Source · Based on the MD&A text of the filing
Small Business & Self-Employed Segment Revenue Growth
Intuit said Small Business & Self-Employed segment revenue rose $1.5 billion (19%) and Consumer segment revenue rose $310 million (7%) in fiscal 2024. The company cited growth in Online Ecosystem revenue as the driver of the Small Business & Self-Employed increase.
Source · Based on the MD&A text of the filing
July 2024 Restructuring Plan
The company said it approved a reorganization plan (the Plan) in July 2024 to reallocate resources to its key growth areas, with estimated restructuring costs of about $247 million. It said it recognized $223 million of costs over the 12 months ended July 31, 2024, primarily related to severance and employee benefits.
Source · Based on the MD&A text of the filing
Operating Cash Flow and Capital Allocation
Intuit said it generated $4.9 billion of cash from operating activities in fiscal 2024, and used $2.0 billion for share repurchases and $1.0 billion for cash dividend payments. As of July 31, 2024, cash, cash equivalents and investments totaled $4.1 billion.
Source · Based on the MD&A text of the filing
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
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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