Intuit Sees 11% Growth in TurboTax Online

Intuit saw an 11 percent increase in per-unit sales of its TurboTax Online product.

Through April 18, total sales of TurboTax federal units excluding Free File Alliance were up 7 percent, with total TurboTax federal units up 6 percent compared to the same period last year, the company reported last Friday. Intuit expects consumer tax revenue growth of approximately 11 percent for fiscal year 2012.

“Our revenue growth this year benefited from positive mix shifts within our TurboTax product lineup,” said Dan Maurer, senior vice president and general manager of Intuit’s consumer group, in a statement. “While the digital tax prep category grew at the lower end of our expectations this year, we believe we gained about one point of share online and are well positioned for long-term growth.”

For the third quarter of fiscal 2012, Intuit now anticipates total company revenue to be at or slightly below the low end of its previous guidance range. The company expects operating income and earnings per share to be within its previous guidance ranges.

Intuit also reaffirmed on Friday its revenue, operating income, and earnings per share guidance for the total company for fiscal 2012.

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