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QB DESKTOP REVS RISE Featured

The focus was on Intuit’s pending acquisition of Credit Karma this week. But despite the boom in QuickBooks Online, QuickBooks Desktop revenue continued to rise in the second quarter ended January 31.

Intuit stopped breaking out unit numbers for its QB products with the report of results in the first quarter.  Still, it would be logical to think that it’s the continued strength of QB Enterprise Solutions. Executives did not mention the desktop in this week’s webcast for earnings for the second quarter ended or in the prior quarter. But in the last two years, QBES has been cited as being behind the continuing growth in desktop revenue. Desktop revenue for the most recently ended quarter was $165 million, an increase of 7.1 percent from $154 million a year earlier. It will be interesting to see if Intuit gets more vocal when QB Online Advanced starts having a bigger impact on results. Of course. that growth was outstripped by QBO revenue of $330 million, up 42.9 percent from last year’s corresponding period. Overall, Intuit reported net income of $240 million, an increase of 27 percent from $189 million a year ago. Revenue for the most recently ended quarter rose 13 percent to slightly less than $1.7 billion, up from $1.5 billion.

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