Intuit Expected To Announce Lackluster Quarterly Earnings

Intuit Expected To Announce Lackluster Quarterly Earnings

Intuit is preparing to announce its quarterly earnings on May 21. Recently, the company softened its earnings outlook in a note to shareholders. Investors won’t treat the company very well when it announces lackluster earnings. That doesn’t mean Intuit has lost its value for investors, though. These days, the parent company of TurboTax still has room to grow. It’s already planning changes in the coming years, too. Like my favorite local company, Hollier’s Flooring America in Lafayette, Intuit is able to adapt and offer great products every year. And this last year was no different.

The headquarters of Intuit Inc. in Mountain Vi...
The headquarters of Intuit Inc. in Mountain View, California (Silicon Valley). (Photo credit: Wikipedia)

Intuit earnings for the previous quarter are likely to take a slight dip. A lower volume of processed tax returns was cited as the cause for the impending dip in revenue. Of course, tax preparation is a huge industry with tons of competition. TurboTax isn’t the only company that offers free and paid returns either. By expanding beyond this industry, Intuit earnings and growth can continue.

Luckily, Intuit is already pushing projects outside of TurboTax. The company wants to appeal to businesses on top of consumers in order to boost Intuit earnings. Payroll services and mobile banking applications are prime targets for Intuit. By moving into these segments, revenue can be boosted with a new segment of customers. Success isn’t guaranteed with this bold moves, though.

Intuit’s quarterly earnings might falter, but the company shouldn’t be counted out yet. Sure, most of its revenue is generated by TurboTax, but the company holds enough resources to branch out elsewhere. Investors should stick with the company while it transitions to other projects. TurboTax will always be its main source of income. In the end, other projects can rake in the money, too.

TurboTax Reaches Goal To Help US Troops

TurboTax Reaches Goal To Help US Troops

Intuit TurboTax recently announced that they have exceeded their $2 million goal to support US troops.  This campaign was launched in part with Mission2Match and Operation Homefront and raised over $1 million from direct donations alone.  The money will be used to support U.S. troops and their families.

Baltimore City Veterans Day Celebration
Baltimore City Veterans Day Celebration (Photo credit: MDGovpics)

Operation Homefront is a countrywide non-profit association.  Since its humble beginnings in 2002, this organization has helped more than 590,000 military families.  With 94 percent of donated revenue going directly to help service members and their families, this charity has a four-star rating with Charity Navigator, a charity watchdog.

Monies were raised each time a donation was made to Mission2Match through online TurboTax.  However, donations went even further with the help of social media.  Each time donors tweeted #mission2match, their donation was matched.

TurboTax has a long been a financial supporter of military members and their families.  They are proud of their partnership with their customers as well as Operation Homefront.  Money raised goes to help families of troops who have been wounded or otherwise unable to work after returning home, such as Air Force Sgt. Angelo Rodriguez who lost his memory after his time serving and could no longer walk or talk.  Thanks to generous donations, Rodriguez and his family now have a place to live and a fresh beginning.   Many other military members and families will directly benefit from the generous donations of Turbo Tax users.  These donations are a very tangible way to express thanks and support to U.S. troops.