INTUIT PAYROLL, QBO REVS SURGE
- Friday, 21 November 2014
- News and Analysis
For its first quarter, Intuit loses money since it is outside of tax season. The question is how much it loses; in this case $84 million for the period ended October 31, compared to $11 million in last year's corresponding period. However, the fact the company is now recognizing all revenue ratably is shoving $400 million into fiscal 2016 and beyond has a role in boosting the red ink. On the top, Intuit reported revenue $672 million, an increase of 8 percent from $622 million a year ago.
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