Intuit Reports Early Season Results: TurboTax Unit Growth Accelerating Since Jan. 30

Business Wire
Thursday, February 21st 2013

Company Reiterates Full-year Revenue Guidance


Intuit Inc. (Nasdaq: INTU) today released the first of three season-to-date updates for its fiscal year 2013 consumer tax offerings. Sales of TurboTax Online units picked up through early February, growing 32 percent from Jan. 30 to Feb. 16 versus the comparable prior-year period. Total federal units grew 29 percent in the same span.

Year to date through Feb. 16, total TurboTax federal units were down 7 percent compared to the same period last year.

"As we've noted, the tax industry got off to a slow start in January. Since the Internal Revenue Service opened e-file on Jan. 30, we’ve seen strong momentum in TurboTax Online,” said Dan Maurer, senior vice president and general manager of Intuit’s consumer group. “We're confident that we're on track and we have an aggressive plan to win."

As part of the company’s second-quarter earnings announcement, Intuit today also reiterated full-year Consumer Tax revenue growth guidance of 8 to 10 percent and company revenue growth guidance of 10 to 12 percent. Further details are available in the second-quarter earnings release issued today.

Season-to-date TurboTax Federal Unit Data


Comparable Prior-
Year Period


Season Through
Feb. 16, 2013



Percent Change



Jan. 30 - Feb.
16, 2013
Change Versus


Intuit Inc.
Matt Rhodes, 650-944-2536
Diane Carlini, 650-944-6251

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