Intuit's Growth Strategy Centered on AI and Assisted Segment Success
Growth Strategy
Intuit's growth plan for FY24 emphasizes the assisted segment, especially in the small-business and consumer markets. The company aims to drive growth through core expansion, ecosystem connectivity, and global reach. This year, Intuit projects double-digit growth in TurboTax Live revenues and enhanced customer engagement.
Results Beat
In Q3, Intuit outperformed expectations with a 12% revenue increase and strong performance in the Small Business and Self-Employed segment. TurboTax Live offerings have become a key revenue driver, with sustainable growth anticipated throughout fiscal 2024.
Guidance
Despite lower Q4 earnings estimate, Intuit remains optimistic about ongoing revenue growth fueled by investments in AI and data. The company's full-year outlook includes a 13% revenue increase and adjusted profit expectations between $16.79 to $16.84 per share, signaling a positive trend for fiscal 2025.
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