US-headquartered business software company Intuit has posted a 13% year-on-year (YoY) increase in annual revenue and shared a confident fiscal 2025 revenue forecast banking on its AI-driven expert platform strategy.
In the full fiscal year 2024 that ended 31 July 2024, the company’s revenues totalled $16.3bn. Last fiscal, the figure was $14.4bn.
Intuit, which makes software such as TurboTax, Credit Karma, QuickBooks, and Mailchimp, also reported a 24% increase in earnings per share from $8.42 in FY23 to $10.43 in FY24.
Operating income of the company also jumped 16% YoY to $3.6bn.
Combined platform revenue, which includes the Small Business and Self-Employed Group Online Ecosystem, TurboTax Online and Credit Karma, increased 14% to $12.5bn.
The company also reported a growth of 17% in fourth quarter revenue to $3.2bn. It totalled $2.71bn in FY23.
In the third quarter of fiscal 2024, which ended on 30 April, the company reported a revenue of $6.7bn.
Intuit also issued guidance for the full fiscal year 2025. It expects to post revenue of $18.16bn to $18.35bn, representing a growth of 12% to 13%.
GAAP diluted earnings per share will range between $12.34 and $12.54.
Intuit CEO Sasan Goodarzi said: “We delivered very strong results for the fourth quarter and full year, and made meaningful progress with our AI-driven expert platform strategy that positions the company for durable growth in the future.
“Our strategy and five Big Bets are solving our customers’ biggest problems as we deliver on our mission to power prosperity for consumers, and small and mid-market businesses.”
