Intuit’s Post

Earnings call: Intuit reports strong Q1 results, reiterates FY2024 guidance, and highlights AI-driven strategy http://dlvr.it/SzZ6G6 > SniperFyre

Check out our report on - Intuit Inc. - #INTU-1 - https://lnkd.in/eCdYBWhC - #technology #stockmarkettips #stockmarketupdate #stockmarketnews #stocktrading #USA #NYC

Intuit (the makers of Quickbooks) has achieved consistent growth since its origin. From the time it was founded, to 2012, its growth was solid consistent, and stable. In Sept 2012, Scott Cook, co-founder of Intuit said the following : "A brand is no longer what we tell the consumer it is – it is what consumers tell each other it is." His statement emphasized his understanding of the changing nature of brand perception in our digital age. The power of customer opinion can significantly influence a brands reputation and thus its value. He was a strong proponent of focusing on customer engagement and feedback loops to help deliver value to the customer and allowing the customers to help dictate the direction of their company and in turn allowing the customers to help market the company as well. Today, with social platforms, the speed of customer sentiment is much quicker and even more important. At Pluss Software LLC, we have a renewed sense of focus on our customer experience. From the sales cycle to those tough support calls, we believe that every experience matters. Our goal is to truly discover and meet our customer's needs. Each time we truly listen and deliver real value to our customer, it connects them to us we believe in that in the end, they will vote with their dollar.  #customerengagement #brandperception #valuesmatter 

#IntuitBetsBigOnAI Intuit's Bold Move: AI and Data at the Core! 🚀 In a significant shift, Intuit, the company behind QuickBooks, Credit Karma, and TurboTax, is laying off 1,800 employees, including some executives. CEO Sasan Goodarzi emphasized that this decision is not about cutting costs but aligning the company’s strategy with its AI and data-driven future. 🌐 By pivoting towards AI, Intuit aims to enhance its financial assistant, Intuit Assist, and reimagine its product offerings. This move aligns with a broader industry trend, as AI adoption surged to 72% this year, according to McKinsey. Goodarzi's vision since 2019 has been to "bet the company on data and AI," a strategy that seems to be paying off. Intuit reported a revenue of $6.7 billion, marking a 12% increase. 📊 Intuit plans to hire 1,800 new employees with expertise in engineering, product management, and customer-facing roles to drive this transformation. This approach not only strengthens Intuit's market position but also sets a precedent for other companies navigating the AI landscape. Are you seeing similar strategic shifts in your industry towards AI and data? Share your thoughts! 🌟 #Intuit #AI #DataDriven #TechTransformation #BusinessStrategy #SasanGoodarzi #QuickBooks #TurboTax #CreditKarma #Saasverse

Intuit had their annual shareholder meeting today. They communicated their 5 big bets - one is to go after mid-market (defined as 10-100 employees). Another competitor (and a major one at that, with deep pockets) entering a crowded space. Link here: https://lnkd.in/eKyfZwih #intuit #smb #payments #b2bpayments #middlemarket

We are all familiar with Intuit and its products, Quickbooks, TurboTax & CreditKarma. They were also in India for a brief period, and I have voiced my opinion about that in an earlier post. Intuit's recent announcement of laying off 1,800 employees, including some executives, highlights a broader trend among companies striving to stay relevant and competitive in an ever-evolving technological landscape. This decision, part of Intuit's transformative journey, underscores the company's commitment to reallocating resources toward priority areas such as AI and generative AI. Intuit's investments in AI-powered solutions, like its GenAI-powered financial assistant, reflect a strategic shift from traditional workflows to AI-native experiences. Additionally, the company's focus on money movement, mid-market expansion for small businesses, and international growth exemplifies its efforts to adapt to emerging market demands. This trend of companies continuously churning to remain competitive and investing in cutting-edge technologies offers valuable lessons for businesses worldwide, particularly small and medium-sized enterprises (SMEs). Embracing technological advancements and being willing to pivot resources towards innovative solutions can be crucial for long-term success. Businesses and individuals can learn from larger corporations like Intuit by recognizing the importance of agility, forward-thinking strategies, and the integration of AI to enhance their offerings and stay ahead of the curve in an increasingly digital world. #intuit #quickbooks #AI #automation #accountingautomation #CFO #agile #forwardthinking #transformation #peachtreemanagementadvisors #businesstransformation #techtrends #digitaltransformation #futureofwork #leadership #strategy

On ­­­­May 24th, NorthStar’s CIO, Nimrit Kang, CFA, delivered this message while appearing on Morning Trade Live on the Schwab Network: “If we look at the AI and cloud environment, I think businesses and organizations are going to get very selective about where they invest and where they spend their funds. There's definitely demand to build out generative AI capabilities but businesses are not going to continue to just keep throwing money at it. Only businesses which have a true compelling value proposition can continue to take share in this environment.” Nimrit was invited onto the program to discuss Intuit’s earnings results and stock performance. In addition to providing insights into Intuit's growth potential, Nimrit also offered a macro perspective on pockets of strength and softness in the market. As long term and active shareholders, NorthStar seeks to develop a deep understanding of the business model, culture, and management strategy. Being asked to share our perspective on the market and discussing with investors how AI is impacting the global macro backdrop is a true passion. Catch the full analysis and video here: https://lnkd.in/ek3STBm9   #Intuit #RevenueGrowth #MarginImprovement  #OliverRenick #SchwabNetwork. #Nvidia #AI #MorningTradeLive #NorthStar #MarketInsights  

Intuit will tell approximately 1,800 of its global employees—10% of its workforce—they will be leaving the company. But leadership says the move isn’t to cut costs. Sasan Goodarzi, CEO of the Fortune 500 company, which offers products like QuickBooks, Credit Karma, and TurboTax, wrote an internal email to employees, seen by Fortune, announcing the “very difficult decisions my leadership team and I have made.” Goodarzi explains that Intuit’s transformation journey, including departing from the 1,800 employees, is part of its strategy to increase investments in priority focus areas of AI and generative AI, such as its GenAI-powered financial assistant called Intuit Assist, and reimagining its products from traditional workflows to AI-native experiences. The strategy also focuses on money movement, mid-market expansion for small businesses, and international growth. bit.ly/4cVAvZK

Nothing wrong with buying growth, just remember what happens when growth suddenly decelerates (especially if you paid a high price for a bright future) "The definition of what “high growth” is continues to be redefined across Software. As can be seen in the chart below across the 105 Software companies we track, we’re now at the 𝗹𝗼𝘄𝗲𝘀𝘁 % 𝗼𝗳 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗴𝗿𝗼𝘄𝗶𝗻𝗴 +𝟯𝟬% 𝗲𝘃𝗲𝗿 (based on consensus NTM revenue estimates). 𝗠𝗲𝗱𝗶𝗮𝗻 𝗡𝗧𝗠 𝗿𝗲𝘃𝗲𝗻𝘂𝗲 𝗲𝘀𝘁𝗶𝗺𝗮𝘁𝗲𝘀 𝗮𝗿𝗲 𝗮𝗹𝘀𝗼 𝗻𝗲𝗮𝗿 𝗮𝗹𝗹-𝘁𝗶𝗺𝗲 𝗹𝗼𝘄𝘀 𝗮𝘁 ~𝟭𝟭%, 𝗯𝗮𝘀𝗶𝗰𝗮𝗹𝗹𝘆 𝟱𝟬% 𝗼𝗳 𝘄𝗵𝗮𝘁 𝘁𝗵𝗲𝘆 𝘄𝗲𝗿𝗲 𝗶𝗻 𝗤𝟰 𝟮𝟬𝟮𝟭"

We've heard quite a lot about how consumers are having to deal with high interest rates. They're putting off large purchases for which they'd need to borrow money, like homes and vehicles. And they're being more careful about how much they spend, since money isn't going as far as it used to. But businesses are also suffering. Baringa did a report on how much higher interest rates are costing businesses: $380 billion through 2030. For Forbes CFO, I talked to report author Cindra Maharaj about what that means for businesses. There's a brief excerpt from the interview in the newsletter, and the full interview transcript will be in the comments. In this week's Forbes CFO, read about interest rates' impact on business, as well as the continuing AI market boom, the Fed's plan for a single rate cut, a ruling on Amazon's lawsuit about dismissing a union organizer and the status of pay transparency laws.