For the six months ended January 31, 2019 we recorded a tax benefit of $2 million on pretax income of $221 million. Turning to guidance, our Q3 fiscal 2020 guidance includes revenue growth of 10% to 11%, GAAP earnings per share of $5.53 to $5.58, and non-GAAP earnings per … "We had a strong fourth quarter capping off a dynamic fiscal 2020. Find the latest Earnings Report Date for Intuit Inc. Common Stock (INTU) at Nasdaq.com. Sasan Goodarzi — Chief Executive Officer. These tables include adjustments that we can reasonably predict. Operating results and gains and losses on the sale of discontinued operations. "We had an outstanding tax season, growing the Do-It-Yourself (DIY) category overall as well as our share of total returns, while posting the strongest customer growth in four years. Intuit Tax Knowledge Engine: Practical AI for a Smarter and More Personalized TurboTax August 18, 2020 August 18, 2020 / Jay Yu, Distinguished Engineer / Architect; Women Entrepreneurs and Pay Equity August 14, 2020 August 18, 2020 / Cassie Divine, SVP QuickBooks, Intuit Women’s Network Executive Sponsor Intuit Inc. (INTU) CEO Sasan Goodarzi on Q1 2020 Results - Earnings Call Transcript Nov. 21, 2019 • 1 Comment Intuit Inc. (INTU) CEO Sasan Goodarzi on Q4 2019 Results - Earnings Call Transcript Gains and losses on disposals of businesses and long-lived assets. We are a global financial platform company with products including TurboTax, QuickBooks, Mint and Turbo, designed to empower consumers, self-employed and small businesses to improve their financial lives. Table B1, Table B2 and Table E reconcile the non-GAAP financial measures in that press release to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). Income tax effects and adjustments. Michelle Clatterbuck — Executive Vice President and Chief Financial Officer. It expects to earn an adjusted $7.55 a share on sales of $7.49 billion. Intuit will host its virtual annual Investor Day on Sept. 23 at 8:00 a.m. Pacific time. This press release and the accompanying tables include non-GAAP financial measures. (Unaudited). GAAP operating income of $2.065 billion to $2.115 billion, growth of 11 to 14 percent. After the closing bell on Tuesday, Intuit Inc. (Nasdaq: INTU) beat earnings results with its fiscal fourth-quarter 2020 earnings release. You must click the activation link in order to complete your subscription. TO MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES The conference call can also be heard live at http://investors.intuit.com/Events/default.aspx. Grew QuickBooks online accounting revenue 43 percent in the quarter, driven by strong customer growth, and to a lesser extent higher effective prices and mix-shift. Amortization of other acquired intangible assets in operating expenses includes amortization of assets such as customer lists, covenants not to compete, and trade names. Non-GAAP diluted earnings per share of $5.90 to $5.95. INTUIT INC. A replay of the conference call will be available for one week by calling 855-859-2056, or 404-537-3406 from international locations. Professional fees for business combinations. This long-term non-GAAP tax rate excludes the income tax effects of the non-GAAP pre-tax adjustments described above, and eliminates the effects of non-recurring and period specific items which can vary in size and frequency. 800-937-5449 Reflects the estimated adjustments in item [a], income taxes related to these adjustments, and other income tax effects related to the use of the non-GAAP tax rate. Operating results and gains and losses on the sale of discontinued operations. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Intuit’s mission is to Power Prosperity Around the World. T he Relevant Period in this example is 01/11/2019 to 31/12/2019 (average earnings are … We recognized excess tax benefits on share-based compensation of $90 million in our provision for income taxes for the twelve months ended July 31, 2020 and $120 million for the twelve months ended July 31, 2019. This represents a 13 percent increase compared to the same period last year. Our effective tax rate for the twelve months ended July 31, 2020 was approximately 17%. New York, NY 10038 11/17/2020. Intuit’s mission is to Power Prosperity Around the World. From time to time, we sell or otherwise dispose of selected operations as we adjust our portfolio of businesses to meet our strategic goals. (Unaudited), Prepaid expenses and other current assets, Current assets before funds held for customers, Accrued compensation and related liabilities, Current liabilities before customer fund deposits, Long-term deferred income tax liabilities, Total liabilities and stockholders’ equity, TABLE D It could be a good time to buy Intuit before its Q3 earnings announcement. This long-term non-GAAP tax rate excludes the income tax effects of the non-GAAP pre-tax adjustments described above, and eliminates the effects of non-recurring and period specific items which can vary in size and frequency. 59 Maiden Lane New York, NY 10038 800-937-5449 (Shareholder Relations) Intuit Corp (NASDAQ: INTU) Q1 2021 earnings call dated Nov. 19, 2020 Corporate Participants: Kim Watkins — Vice President of Investor Relations. QuickBooks Capital has funded $683 million in cumulative loans (excluding PPP loans) since launch. Michelle Clatterbuck — Executive Vice President and Chief Financial Officer. We exclude from our non-GAAP financial measures the professional fees we incur to complete business combinations. Shares of Intuit (NASDAQ:INTU) moved higher by 1% after the company reported Q1 results.. Quarterly Results. The Intuit earnings report also the company reiterating its fiscal 2020 guidance. Analysts: Ken Wong — Guggenheim Securities — Analyst. Intuit Tax Knowledge Engine: Practical AI for a Smarter and More Personalized TurboTax August 18, 2020 August 18, 2020 / Jay Yu, Distinguished Engineer / Architect; Women Entrepreneurs and Pay Equity August 14, 2020 August 18, 2020 / Cassie Divine, SVP QuickBooks, Intuit Women’s Network Executive Sponsor (In millions) American Stock Transfer & Trust Company. Do the numbers hold clues to what lies ahead for the stock? Excluding nonrecurring PPP revenue, growth was 12 percent for the quarter and 19 percent for the year. (Unaudited), Professional fees for business combinations, TABLE C Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks of Intuit Inc. Intuit (NASDAQ: INTU) releases its next round of earnings this Thursday, November 19.Here is Benzinga's essential guide to Intuit's Q1 earnings report. After submitting your request, you will receive an activation email to the requested email address. You must click the activation link in order to complete your subscription. This differed from the federal statutory rate of 21% primarily due to state income taxes and non-deductible share-based compensation, which were partially offset by the benefit we received from the federal research and experimentation credit. Net Income, Earnings, And Earnings … We exclude from our non-GAAP financial measures the professional fees we incur to complete business combinations. Segment managers are not held accountable for share-based compensation expense, amortization, or the other excluded items and, accordingly, we exclude these amounts from our measures of segment performance. This press release contain forward-looking statements, including the impact of the COVID-19 pandemic on Intuit’s business; the timing of when individuals will file their tax returns; Intuit’s prospects for the business in fiscal 2021 and beyond; expectations regarding Intuit’s growth outside the US; expectations regarding timing and growth of revenue for each of Intuit’s reporting segments and from current or future products and services; expectations regarding customer growth; expectations regarding Intuit’s corporate tax rate; expectations regarding changes to our products and their impact on Intuit’s business; expectations regarding the amount and timing of any future dividends or share repurchases; expectations regarding availability of our offerings; expectations regarding the impact of our strategic decisions on Intuit’s business; and expectations regarding the timing, completion and impact of the Credit Karma acquisition. If you experience any issues with this process, please contact us for further assistance. We believe our non-GAAP financial measures also facilitate the comparison by management and investors of results for current periods and guidance for future periods with results for past periods. The starting point for this forecast is the Intuit 2020 … Professional fees for business combinations. Increased online services revenue 21 percent for the quarter and 21 percent for the year. Grew combined QBO and TTO platform revenue 22 percent, totaling approximately $4.8 billion. The price target was set to $ 430.00. See “About Non-GAAP Financial Measures” immediately following this Table E for information on these measures, the items excluded from the most directly comparable GAAP measures in arriving at non-GAAP financial measures, and the reasons management uses each measure and excludes the specified amounts in arriving at each non-GAAP financial measure. From time to time, we sell or otherwise dispose of selected operations as we adjust our portfolio of businesses to meet our strategic goals. A replay of the conference call will be available for one week by calling 855-859-2056, or 404-537-3406 from international locations. The access code for this call is 5593966. INTUIT INC. (Unaudited). Prepaid expenses and other current assets, Current assets before funds held for customers, Accrued compensation and related liabilities, Current liabilities before customer fund deposits, Long-term deferred income tax liabilities, Total liabilities and stockholders’ equity, CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS. We exclude the following items from all of our non-GAAP financial measures: We also exclude the following items from non-GAAP net income (loss) and diluted net income (loss) per share: We believe that these non-GAAP financial measures provide meaningful supplemental information regarding Intuit’s operating results primarily because they exclude amounts that we do not consider part of ongoing operating results when planning and forecasting and when assessing the performance of the organization, our individual operating segments, or our senior management. We exclude from our non-GAAP financial measures non-cash charges to adjust the carrying values of goodwill and other acquired intangible assets to their estimated fair values. The company reported earnings of $1.16 per share, beating consensus estimates by $0.14 per share. Intuit, Inc. (NASDAQ:INTU) Q3 2020 Results Conference Call May 21, 2020 4:30 PM ET Company Participants Kim Watkins - Vice President, Investor Relations Sasan Goodarzi - … It still expects adjusted EPS of $7.50 to $7.60 on revenue of $7.44 billion to $7.54 billion. Increased non-GAAP operating income to $2.7 billion, up 17 percent. Adjustments to reconcile net income to net cash provided by operating activities: Amortization of acquired intangible assets. Non-GAAP operating income of … Transfer Agent. Increased Online Services revenue 23 percent, driven by QuickBooks Online payroll and QuickBooks Online payments. Table B1 and Table B2 reconcile the non-GAAP financial measures in that press release to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). Prepared remarks for the call will be available on Intuit’s website after the call ends. Snapshot of Fourth-quarter Fiscal Year 2020 Results. We do not undertake any duty to update any forward-looking statement or other information in this presentation. This long-term non-GAAP tax rate could be subject to change for various reasons including significant changes in our geographic earnings mix or fundamental tax law changes in major jurisdictions in which we operate. Small Business and Self-Employed Group revenue 17 percent to $973 million. Snapshot of Fiscal Year 2020 Full-year Results. & Trust Company, 59 Maiden Lane More details about these and other risks that may impact our business are included in our Form 10-K for fiscal 2019 and in our other SEC filings. At Intuit Inc., we promise to treat your data with respect and will not share your information with any third party. These risks and uncertainties may be amplified by the COVID-19 pandemic, which has caused significant economic instability and uncertainty. We may consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures. Our global products and platforms, including TurboTax, QuickBooks, Mint and Turbo, are designed toempower consumers, self-employed and small businesses to improve their financial lives, finding them more money with the least amount of work, while giving them complete confidence in their actions and decisions. The company expects: Revenue of $7.440 billion to $7.540 billion, growth of 10 to 11 percent. Amortization of acquired technology and amortization of other acquired intangible assets. We exclude these amounts from our non-GAAP financial measures. These consist of non-cash expenses for stock options, restricted stock units, and our Employee Stock Purchase Plan. The company expects: Intuit reiterated guidance for full fiscal year 2020. GAAP CONSOLIDATED STATEMENTS OF OPERATIONS, Amortization of other acquired intangible assets, Shares used in basic per share calculations, Shares used in diluted per share calculations. Our platform and products help customers get more money with the least amount of work, while giving them complete confidence in their actions and decisions. Increased GAAP and non-GAAP earnings per share by 17 percent and 16 percent respectively. Income tax adjustments consist primarily of the tax impact of the non-GAAP pre-tax adjustments and the excess tax benefits on share-based compensation. Intuit, which belongs to the Zacks Computer - Software industry, posted revenues of $1.82 billion for the quarter ended July 2020, surpassing the Zacks Consensus Estimate by … You can locate these reports through our website at http://investors.intuit.com. Received Board approval for a quarterly dividend of $0.59 per share, payable October 19, 2020. These consist of non-cash expenses for stock options, restricted stock units, and our Employee Stock Purchase Plan. The price to earnings ratio is calculated by taking the latest closing price and dividing it by the most recent earnings per share (EPS) number. By providing your email address below, you are providing consent to Intuit Inc. to send you the requested Investor Email Alert updates. Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks of Intuit Inc. Increased Consumer Group revenue to $710 million. The analysts of Goldman Sachs have rated Intuit with a Neutral rating. Earnings Results Intuit’s ‘strong’ first quarter: Profit more than triples, revenue rises 14% Published: Nov. 19, 2020 at 4:41 p.m. Earnings Results Intuit’s ‘strong’ first quarter: Profit more than triples, revenue rises 14% Published: Nov. 19, 2020 at 4:41 p.m. If you experience any issues with this process, please contact us for further assistance. Income tax effects and adjustments. Our effective tax rates for the three and six months ended January 31, 2020 were approximately 15% and 2%, respectively. Intuit reiterated guidance for full fiscal year 2020. Our innovative ecosystem of financial management solutions serves approximately 50 million customers worldwide, unleashing the power of many for the prosperity of one. At the end of the fourth quarter, the net loans receivable balance for non-PPP loans was $40 million. Our innovative ecosystem of financial management solutions serves approximately 50 million customers worldwide. To hear the call, dial 844-246-4601 in the United States or 703-639-1172 from international locations. We compute our provision for or benefit from income taxes by applying the estimated annual effective tax rate to income or loss from recurring operations and adding the effects of any discrete income tax items specific to the period. The financial software giant is set to report fourth quarter fiscal 2020 earnings results after the closing bell Tuesday. We exclude from our non-GAAP financial measures gains and losses that we record when we impair available-for-sale debt and equity securities and other investments. Small Business Online Ecosystem revenue by 35 percent. Drove DIY category growth of 3.5 percent, outpacing assisted category decline of 3.7 percent while total e-files were up 0.6 percent, based on IRS data through February 7. (In millions, except per share amounts) Goodwill and intangible asset impairment charges. The following are descriptions of the items we exclude from our non-GAAP financial measures. Professional tax revenue in the Strategic Partner Group grew by 4 percent for the year. We compute non-GAAP financial measures using the same consistent method from quarter to quarter and year to year. Gains and losses on debt and equity securities and other investments. 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