MAAT INDEX

CLAIM #32548 · Intuit Inc (INTU) · 2023Q3 earnings call · May 23, 2023 · due Jul 31, 2023

We are raising our total company fiscal year 2023 revenue, operating income, earnings per share guidance.

Sasan Goodarzi · CEO

CANNOT_DETERMINE
versus commitment · official band 5 percent
Committed
We are raising our total company fiscal year 2023 revenue, operating income, earnings per share guidance.
Reported
We grew full year revenue 13%

In context

to worldwide business metrics. A copy of our prepared remarks and supplemental financial information will be available on our website after this call ends. And with that, I'll turn the call over to Sasan. Sasan Goodarzi: Great. Thank you, Kim, and thanks to all of you for joining us today. Third quarter revenue grew 7%, lower than our expectations, reflecting a unique tax season, while we exceeded operating income and earnings per share guidance. We continue to see strong growth in the Small Business and Self-Employed Group, which grew 21% in the quarter. Our overall performance this year demonstrates the strength of our platform and portfolio, including our ability to maintain earnings power in uncertain times while investing in the most important areas to drive long-term durable growth. We are raising our total company fiscal year 2023 revenue, operating income, earnings per share guidance. I am very proud of our team, as we now expect revenue and operating income to grow double digits, and margins to expand even more than previously guided. Let's turn to tax. While this was a unique tax season, we are making good progress transforming the assisted segment with TurboTax Live. This year, we expect overall IRS returns to decline 2% through July 31, below our original expectations for total returns to grow 1%, which was more in-line with historical trends. We also expect the DIY category share of total IRS returns to decline nearly 0.75 point, also below our expectation. We believe the IRS and DIY category declines are driven by those who filed in order to receive pandemic-era stimulus and tax credits during the past several years but did not file taxes this season. As a remind

Verify independently

SEC filings for INTU · Claim quote is verbatim from the 2023Q3 earnings call.