Intuit expects approximately 4 percent revenue growth in TurboTax for the 2013 fiscal year, the company said today.
Through April 16, sales of TurboTax Online units increased 6 percent versus the comparable prior-year period, to 18,460,000. Total TurboTax federal units were up 3 percent, to just over 25 million. As of April 12, IRS returns received were down 2 percent compared with last year.
The company added that it expects its Accounting Professionals tax segment to deliver revenue growth within the guidance range of 5 to 8 percent for the year and that its Small Business results remained “in line” with expectations of 15 to 17 percent revenue growth for the year.
Intuit now expects total company results to be below its previous guidance range for fiscal year 2013. For the third quarter of fiscal 2013, which ends April 30, Intuit now expects revenue of $2.165 billion to $2.175 billion (versus previous guidance of $2.215 billion to $2.275 billion); GAAP operating income of $1.265 billion to $1.275 billion (versus previous guidance of $1.290 billion to $1.315 billion); non-GAAP operating income of $1.325 billion to $1.335 billion (versus previous guidance of $1.350 billion to $1.375 billion); GAAP diluted EPS of $2.79 to $2.81 (versus previous guidance of $2.83 to $2.88); and non-GAAP diluted EPS of $2.92 to $2.94 (versus previous guidance of $2.99 to $3.04).