CLAIM #32542 · Intuit Inc (INTU) · 2023Q2 earnings call · Feb 23, 2023 · due Oct 31, 2023
“I think it was even more pronounced in small business because of the business model shift in desktop, where we are bringing pricing to parity with online and we just -- we expect that to continue in the next several quarters, but that there's a durability element of this, not just a quarterly element for this.”
Sasan Goodarzi · CEO
In context
“e moving upmarket. In TurboTax, the example is moving into the assisted segment. So price and mix are really the largest drivers. And because of just the vast and accelerated innovation, we also have price as a leverage because we always want to be disruptive from the bottom, and we want to continue to disrupt at the top. And that actually gives us a lot of pricing power because of the value equation and the benefits that we deliver for our customers. And so with that as context, looking ahead, not just the next couple of quarters, but looking in terms of just the long-term durability of Intuit and how we think about things, we believe the majority of our growth will continue to come from volume and mix and price will always be a lever because particularly that we are moving upmarket. And I think it was even more pronounced in small business because of the business model shift in desktop, where we are bringing pricing to parity with online and we just -- we expect that to continue in the next several quarters, but that there's a durability element of this, not just a quarterly element for this. Mark Murphy: Okay. Understood. And then as a quick follow-up, on the Mailchimp side, are the initiatives that are designed to stimulate higher growth for MailChimp, which I think has been including the very creative advertising campaigns you've had out there. Are those starting to take hold and produce an effect in terms of whether we look at e-mail marketing, campaign volumes or seeing customers opt in to the right products there where they run the AB test and kind of connect back with the rest of the ecosystem. Is that something you see starting to take hold currently or in the next couple of quarters as well? Sasan Goodarzi: Yes, Mark, I would say that when you think about the priorities that we talked about in the focus areas, we are starting to see green shoots, and we started seeing”
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SEC filings for INTU ↗ · Claim quote is verbatim from the 2023Q2 earnings call.