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Tuesday, March 29, 2016
Intuit Announces Rise in Online TurboTax Use Among Americans
Intuit announced its fiscal 2Q16 results and posted revenues of $923 million, up 23 percent over last year. An important highlight was the growth in the sales of online TurboTax units to 12 percent versus the comparable prior-year period. And Intuit reports self-prepared e-filings increased approximately 3 percent, while assisted e-filings decreased 5 percent over the same period.
In a prepared statement, Brad Smith, Intuit’s chairman and chief executive officer added, “We’re out of the gates strong in the first half of fiscal 2016. We grew revenue 23 percent in the second quarter, and exceeded our guidance across the board. We also saw record QuickBooks Online subscriber growth in this quarter, with over 80 percent of customers new to the Intuit franchise.”