Good Start to Fiscal 2019 for Intuit

For the quarter, revenue rose 12% year over year to $1.02 billion. Small business & self-employed revenue grew 11% to $908 million, while consumer revenue increased 22% to $90 million. The shift to Intuit’s online ecosystem remained apparent as online subscribers grew 41% year over year to 3.59 million in contrast to the 5% decline in desktop unit sales. The consumer group metrics weren’t meaningful for the quarter given the off-peak season, but we are expecting a strong performance from the business over the full year.

Morningstar Premium Members gain exclusive access to our full analyst reports, including fair value estimates, bull and bear breakdowns, and risk analyses. Not a Premium Member? Get this and other reports immediately when you try Morningstar Premium free for 14 days.