Strong Fourth Quarter Performance Led By 43 Percent Online Ecosystem
Revenue Growth: Company Sets Guidance for Fiscal 2019

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Intuit Inc. (Nasdaq: INTU) announced financial results for the fourth quarter and full fiscal year 2018, which ended July 31.

"Growth accelerated across our businesses this year, fueled by 18 percent growth in the Small Business and Self-Employed Group, and 14 percent growth in the Consumer Group,” said Brad Smith, Intuit's chairman and chief executive officer.

"Both Online Ecosystem revenue and QuickBooks Online subscribers grew at a rapid pace. We are also pleased with the strong product innovation in our Consumer business, focused on better serving our customers.

"One year into our focus on the One Intuit Ecosystem, our results affirm that our strategy is working and is positioning the company for durable growth," said Smith.

Financial Highlights

For the fourth quarter, Intuit:

• Grew revenue to $988 million, up 17 percent year-over-year.
• Grew Online Ecosystem revenue by 43 percent.

For the full year, Intuit:

• Grew revenue to nearly $6.0 billion, up 15 percent year-over-year.
• Grew Online Ecosystem revenue by 40 percent.
• Finished the year with over 3.4 million QuickBooks Online subscribers, growth of 43 percent.
• Grew Consumer Group revenue 14 percent.
• Increased GAAP operating income to $1.5 billion, up from $1.4 billion in the prior year.
• Increased non-GAAP operating income to $2.0 billion, up 14 percent.
• Increased GAAP and non-GAAP earnings per share by 25 percent and 27 percent respectively.

Unless otherwise noted, all growth rates refer to the current period versus the comparable prior-year period, and the business metrics and associated growth rates refer to worldwide business metrics.

READ FULL REPORT BY CLICKING HERE