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

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Thursday, February 21st 2013

Company Reiterates Full-year Revenue Guidance

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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
Year-Over-Year

 

   

Jan. 30 - Feb.
16, 2013
Change Versus
Comparable
Prior-Year
Period

Contacts

Intuit Inc.
Investors
Matt Rhodes, 650-944-2536
matthew_rhodes@intuit.com
Media
Diane Carlini, 650-944-6251
diane_carlini@intuit.com

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