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CLAIM #32706 · Intuit Inc (INTU) · 2024Q4 earnings call · Aug 22, 2024 · due Aug 22, 2027

We are confident in our long term growth strategy, including double-digit revenue growth and operating income growing faster than revenue.

Sasan Goodarzi · CEO

PENDING
graded after results covering Aug 22, 2027 are reported

How to check this claim

Look at: Total company revenue growth rate (YoY) and operating income growth rate (YoY), fiscal year

It came true if: Revenue growth >= 10% and operating income growth rate exceeds revenue growth rate, for fiscal year(s) through FY2027

Where: Company income statement (10-K / earnings release)

In context

fiscal 2024, and we expect it to become the majority of Consumer Group revenue in the coming years. With that context, while we are scaling assisted, we are adjusting the Consumer Group long-term revenue growth rate to 6% to 10% in this interim period, with TurboTax Live revenue expected to grow 15% to 20%. One final note before I wrap up. Starting in Q1, we will be changing the name of our Small Business and Self-Employed Group to Global Business Solutions Group. This new name better aligns with the global reach of the Mailchimp and QuickBooks platform, and our focus on serving both small and mid-market businesses, and our vision to become the end-to-end platform that customers use to grow and run their business. With that, I’ll turn it back over to Sasan. Sasan Goodarzi: Thanks Sandeep. We are confident in our long term growth strategy, including double-digit revenue growth and operating income growing faster than revenue. We have the strategy to win given the green shoots we're observing, and with less than 5% penetration of our $300 billion in TAM, with a massive runway ahead. We look forward to seeing all of you at our Investor Day next month, where we’ll unpack all of this and more. Let’s now open it up to your questions. Operator: Thank you, Mr. Goodarzi. [Operator Instructions] We'll go first this afternoon to Siti Panigrahi at Mizuho. Siti Panigrahi: Great. Thank you. If one question, then Sasan, I will focus on small business segment, 19% growth is pretty good in this environment, where we are hearing about SMB weakness. But I want to focus on your growth in ‘25 -- fiscal '25 and beyond. Now it looks like your focus is now driving growth through targeting mid-market. You talked about that and rename

Verify independently

SEC filings for INTU · Claim quote is verbatim from the 2024Q4 earnings call.