How has INTU's Consumer Segment performed over the past year?
3/30/2025 01:22pm
Intuit's Consumer Segment has shown robust performance over the past year, with significant growth in key areas:
1. **Revenue Growth**: The Consumer Segment's revenue grew by 9% year-over-year to $3.7 billion. This increase reflects the segment's strong market presence and customer demand for its products.
2. **Product-Specific Growth**: Within the Consumer Segment, TurboTax Live revenue is expected to grow by 17% to $1.4 billion in fiscal year 2024. This growth is attributed to the platform's expanding customer base and increased revenue per customer.
3. **Customer Base Expansion**: The segment's Small Business and Self-Employed Group saw an 18% year-over-year revenue growth to $2.4 billion. This indicates a strong performance among its core customer base, which includes freelancers, small business owners, and entrepreneurs.
4. **Digital Transformation**: The Online Ecosystem, which includes QuickBooks Online Accounting, Credit Karma, and other digital services, grew by 14% to $12.5 billion. This sector's significant increase highlights the success of Intuit's digital strategy and the strong demand for its online financial solutions.
Overall, Intuit's Consumer Segment has demonstrated strong growth across various product lines and customer segments, positioning the company well for continued success in the future.