“Looking ahead, we expect continued strong desktop ecosystem revenue growth next quarter and as we complete the remaining part of the three-year transition.”

In context

“Within payments, revenue growth reflects ongoing customer growth as more customers adopt our payments offerings to manage their cash flow and an increase in total payment volume per customer. Third, we continue to make progress expanding globally, by executing our refreshed international strategy, which includes leading with Mailchimp. On a constant currency basis, total international online ecosystem revenue grew 12% in Q3. Desktop Ecosystem revenue grew 16% in the third quarter, and QuickBooks Desktop Enterprise revenue grew approximately 20%. We are just over half-way through a three-year transition to a subscription model for our desktop accounting solutions, making this revenue more predictable. We also raised our desktop prices for several products last September to price for value. Looking ahead, we expect continued strong desktop ecosystem revenue growth next quarter and as we complete the remaining part of the three-year transition. We will continue to build out our online ecosystem, and help our desktop customers migrate seamlessly to our online offerings when they're ready. We continue to expect the online ecosystem to be our growth catalyst longer-term. As a result of the strong growth we are seeing in the Small Business and Self-Employed Group, we are raising our full year segment revenue growth guidance to 24% from 19% to 20%. Credit Karma delivered revenue of $410 million in Q3, down 12%. As a reminder, Credit Karma represented 14% of our total revenue in fiscal 2022. On a product basis, the decline was driven primarily by headwinds in personal loans, home loans, auto loans and auto insurance, partially offset by growth in Credit Karma Money and credit cards. We are seeing more stability across our core vertica”