“We believe the best measure of the health and success of our strategy is online ecosystem revenue growth, which we expect to grow better than 30% organically over time. This is driven by 10% to 20% expected growth in both customers and ARPC.”

In context

“econd, we continue to focus on connecting the ecosystem. Online services revenue, which includes Mailchimp, payroll, payments, capital and time tracking, grew 121% in fiscal Q3. Excluding MailChimp, online services revenue grew 28%. MailChimp revenue recorded in online services was $257 million in the quarter, and this was in line with our expectations. Within payroll, revenue growth in the quarter reflects growth in payroll customers and a mix shift to our full-service offering. Within payments, revenue growth reflects an increase in charge volume per customer and ongoing customer growth. Third, we continue to make progress expanding globally. Total international Online Ecosystem revenue grew 221% in fiscal Q3 on a constant currency basis and 29% on an organic basis, excluding MailChimp. We believe the best measure of the health and success of our strategy is online ecosystem revenue growth, which we expect to grow better than 30% organically over time. This is driven by 10% to 20% expected growth in both customers and ARPC. Desktop Ecosystem revenue grew 3% in the third quarter. QuickBooks Desktop Enterprise revenue grew mid-teens, driven by strong customer growth and price increases. Longer term, we don’t expect the desktop business to be a growth driver for the Small Business and Self-Employed Group. Moving on to Credit Karma, revenue grew 48% to $468 million in Q3, another record revenue quarter, driven primarily by growth in average revenue per monthly active user. On a product basis, revenue growth was driven primarily by personal loans and credit cards and to a lesser extent, auto loans. We are developing the emerging verticals by focusing on innovation with Credit Karma Money, which we believe is key to growing the frequency of visits over time. As Sasan shared earlier, we saw a more than tripling in”