Estimated reading time: 0 minutes, 45 seconds

QB ENTERPRISE REVS STRONG Featured

Revenue for QuickBooks Enterprise, Intuit’s desktop mid-market package, appear to have grown in last quarter. During the week’s earnings webcast, CFO Michelle Clatterbuck said revenue grew “high-teens’ for the second quarter ended January 31.

That percentage increase contrasts to the last several quarters in which QBE revenue has consistently been described as growing by “mid-single digits”. QB desktop revenue rose to $215 million for the most recently ended period, up 27.2 percent from $169 million a year earlier. Intuit has previously said the growth in desktop revenue stems primarily from QBE. “We expect continued strong desktop ecosystem revenue growth as we progress through the back half of the fiscal year,” Clatterbuck said. Revenue for QuickBooks Online reached $696 million for the quarter, an increase 21.1 percent from $574 million in last year’s corresponding period. Second-quarter net income was $168 million, 68 percent up from $100 million a year earlier. Total revenue was $3.04 billion, rising 13.8 percent from $2.67 billion.

 

Read 1004 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.