×

Warning

JUser: :_load: Unable to load user with ID: 62

Estimated reading time: 0 minutes, 49 seconds

QBE REVS GROW “LOW 20s Featured

Revenue for QuickBooks Desktop Enterprise increased “in the low 20s” year-over-year for the year ended July 31, Intuit said this year. Overall, desktop QB revenue rose 19 percent over fiscal 2022.

That suggests desktop growth continues to come from QBE. During this week’s earnings webcast, new CEO Sandeep Aujla, said Intuit expects “continued strong desktop ecosystem revenue growth next year” as it is about two-thirds of the way into a three-year program to move desktop users from license sales to subscription payments. Intuit reported $1.1 billion in revenue for QB Desktop Accounting for the year just ended up 31 percent from $851 million for fiscal 2022. The company does not break out QBE revenue. Aujla noted Intuit has raised prices on many of its desktop products “consistent with our principle to price to value.” It also sounds like a good way to encourage desktop users to migrate to online and a good way to hike margins on products that are probably not getting a lot of R&D money.

Read 881 times
Rate this item
(0 votes)

Visit other PMG Sites: