CLAIM #32471 · Intuit Inc (INTU) · 2022Q4 earnings call · Aug 23, 2022 · due Jul 31, 2023
“Depending on market conditions and other factors, our aim is to be in the market each quarter.”
Michelle Clatterbuck · CFO
In context
“rowing the frequency of visits over time. We remain excited about the opportunities ahead. Consumer Group revenue was $3.9 billion in fiscal 2022, up 10%. I’m proud of our execution this season as we grew share and average revenue per return. Turning to the ProConnect Group. We reported $546 million in revenue for fiscal 2022, up 6%. Our financial principles guide our decisions remain our long-term commitment and are unchanged. We finished the quarter with approximately $3.3 billion in cash and investments and $6.9 billion in debt on our balance sheet. We repurchased $508 million of stock during the fourth quarter and $1.9 billion during fiscal 2022. The Board approved a new $2 billion repurchase authorization, giving the company a total authorization of $3.5 billion to repurchase shares. Depending on market conditions and other factors, our aim is to be in the market each quarter. The Board approved a quarterly dividend of $0.78 per share payable October 18, 2022. This represents a 15% increase versus last year. We have an operating system we use to run the company, and this includes a proven playbook for operating in both good and difficult economic times. As a nearly 40-year-old company, we’ve been through many economic cycles. Our first priority is to do the right thing for customers, giving them access to the tools and offerings they need most. We manage for the short and long term and control discretionary spend to deliver strong results while investing in what is most important for future growth. The economic environment was a consideration as we look ahead. We have identified several levers we can pull to deliver against our financial principles in a variety”
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SEC filings for INTU ↗ · Claim quote is verbatim from the 2022Q4 earnings call.