Intuit Inc. (INTU) Q1 FY2025 Earnings Breakdown

Key Highlights:

• Revenue Growth: Total net revenue increased to $3.283 billion, up from $2.978 billion in the same period of the prior year. This was primarily driven by growth in service revenue, particularly from QuickBooks Online Accounting and Online Services.
• "Revenue for our Credit Karma segment increased $119 million, or 29%, in the first quarter of fiscal 2025 compared to the same period in fiscal 2024, due to increases in revenue from our personal loan vertical of $44 million, our auto insurance vertical of $36 million, and our credit card vertical of $31 million."
• Segment Performance: The Small Business & Self-Employed Group and Credit Karma segments experienced strong revenue and operating income growth.
• Net Income: Net income decreased to $197 million compared to $241 million in the same period last year.
• Cash Flow: Net cash provided by operating activities was $362 million, a significant improvement from the $(97) million used in the prior year period.
• Stock Repurchases: Intuit repurchased 915,000 shares of common stock for $570 million during the quarter and increased the authorization under the existing stock repurchase program by $3 billion.
• Debt: Intuit holds a significant amount of debt, totaling $6.1 billion as of October 31, 2024. This includes senior unsecured notes, a senior unsecured credit facility, and secured credit facilities.