Revenue was $3.27 billion, up 12 percent from $2.91 billion for last year’s corresponding period. Growth in QuickBooks Online continued to be strong with 4,247,00 subscriptions reported at the end of the quarter, an increase of 32 percent from 3,223,000 at the end of the second quarter of fiscal 2018. With the rate of increase less than previously, CFO Michelle Clatterbuck noted during this week's earnings webcast, “We expected QuickBooks Online subscription growth to moderate.” She noted subscriptions outside the United States rose by 55 percent to more than 1.1. million. Still it is a matter of growth on an increasing large base with Intuit maintaining the pace of adding 1 million QBO subs a year or more over the last seven quarters. Subscription of QB Self-Employed increased about 680,000 to about 970,000.
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INTUIT REGISTERS STRONG QUARTER Featured
Intuit turned in double-digit growth in both net income and revenue for the third quarter ended April 30. With the quarter including the majority of tax season, Intuit this week reported net income of $1.38 billion for the most recently ended quarter, a 16.2-percent increase of $1.19 billion a year ago.
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