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INTUIT’S QBES MARCHES ON

Brad Smith, IntuitIntuit’s QuickBooks Enterprise Solutions reached 60,000 active subscribers on October 30 as the mid-market product moved up by 3,000 customers from three months earlier. The company gave those numbers as it issued its financial results for the first quarter ended October 30.  That’s the third quarter in row the number of active subscribers - those on maintenance as opposed to those who buy and don't stay - went up by 3,000. And the growth pushes the total to a third higher than it was at the end of fiscal 2010 on July 31, 2010.

It is also up more than 50 percent from the first quarter in that fiscal year. Because of its high-profile emphasis on connected services, Intuit introduced some new metrics with the quarterly report. One of these is the number of small business customers, reported at  5 million, down from 5.1 million in the fourth quarter of fiscal 2011. The number has varied from a low of 4.9 million in the third quarter and 5.2 million for the fourth quarter of 2011. An analyst honed in on that point during this week's earnings conference call and CEO Brad Smith said that adding customers is a priority, but added that economy has been a factor. Also having an impact was the company’s dropping its SimpleStart product combined with changes to the payroll offerings which reduced the number of businesses buying from Intuit. Intuit has also seen the number of accounting professionals using its products fall over the last four years, going from 106,000 for the end of FY 2010 to 105,000 for the end of FY 2011. However, in both areas, while the number of customers is down, revenue from those sources has risen.

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