INTU - Earnings call transcript Q4 2018

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon. My name is Latif, and I will be your conference facilitator. At this time, I would like to welcome everyone to Intuit’s Fourth Quarter Fiscal Year 2018 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session period [Operator Instructions]. now President call of will Natoli, to I Vice Intuit’s Finance that, turn over the Jerry With and Treasurer. Mr. Natoli?

Jerry Natoli

afternoon. call. with incoming CEO. Good fiscal our CFO; and Latif. And Goodarzi Intuit’s Clatterbuck, to Thanks, our Sasan fourth CEO; XXXX Michelle conference Smith, I Brad here and am our Chairman welcome quarter

results from of Before I to like will expectations. would we could factors remarks are that statements. materially forward-looking There remind include to cause Intuit’s start, our a everyone number differ that our

You Form risks we can other in the issued earlier more about learn these fiscal our press this XX-K and release afternoon, XXXX filings. our SEC for

any All Intuit’s of at no intuit.com. on the documents update available assume Web statements. Investor forward-looking Relations site are page We of to those obligation

numbers presented press Some We’ve non-GAAP in non-GAAP basis. GAAP are the today’s numbers in these a remarks reconciled on comparable and of release. the

We on press retrospective new issued XXX are recognition August XXXX ASC fiscal XXXX XXX. revenue full provided year which XXXX, We ASC We X, the under today XXXX the restated recognition historical comparability the began fact XXXX. our revenue results years for elected under to reporting in we fiscal adopt year fiscal adopted standard the standard in financials and and XXX for today sheet. model and have release ASC

ends. XXX. rates business remarks A rates that, period the Intuit We otherwise on during I’ll the also financial ASC posted discuss of at all and will and the over copy Web noted, be refer this refer will business site call Web turn on of year to prior highlighting prepared associated comparable call Brad. prepared after to the current growth site Investor deck www.intuit.com metrics our to information With significant her available supplemental our period, metrics. worldwide and to section a Unless this under Michelle slide the Relations remarks. the changes growth versus the change impact

Brad Smith

thanks and all joining for Jerry Thanks, us. to you of

you for let's why to I him baton pass Officer fourth stepping very today, press our in us is to and of Goodarzi I'll in and call had share Chief the in Executive strong to Sasan a Intuit announce XXXX read Chairman. of outlook the of the quarter, our at our year Fourth continue the revenues quarter results excellent fiscal January grew fiscal end it's XXXX. time our end be Intuit’s today. the first become As year Executive as and year Sasan right to and talk release with full-year capping feel off at serve XXXX. down as fiscal more January also X, XX% an on that happy this am XXXX. on We thoughts call. I I'll will next Sasan about CEO XX%. the about revenues But grew XXXX,

XXXX. the year refresh Consumer growth Revenue change our Group. we multiyear the a that fueled growth XX% in year our We Group This Ecosystem through as journey and are growth and Small one into look positioning is growth and businesses in One XX% confirm Intuit Company Self-Employed growth the was Business by ahead. across strategy accelerated fiscal in durable results our

XX% projects we growing with U.S. observations that overview, Within expect our on over grew exceeding subscribers With me increase ago. XXX,XXX subscribers growing see year in a growth. XXX,XXX. year million of with remains As subscribers you to can year, geographies one exceeding Group. nearly to another year-over-year. across and some over for year X.X revenue guidance fiscal international quarter roughly X reflected added Self-Employed our our in than XX% strong fiscal better Growth million year multiple from revenue up successful performance. business QuickBooks Business another in and XX% grew XX%. more XX% Online in for XXXX grow Small XXXX, We QuickBooks the just fourth deliver quarter our strong Online XXX,XXX, fiscal to approximately let delivered to XX% from Self-Employed to X.X share and subscribers the We Online, million subscribers, ecosystem

shift at Online the As now model revenues we fiscal emerged placing represents to see success and to growth this this Even continue a of moderate online the expect move emphasis some business we’re range evolution. greater year focus of has beginning additional penetrating more stages XX% broader to to best scale, held we services the chapter and as year-over-year, it we in next subscriber base than $X XXXX, ecosystem on business our a and growth revenue as in billion. customers. the ecosystem the

With forward-looking on growth, for will QuickBooks the share online we focus will no our be guidance longer ecosystem but subscriber revenue to growth, actual subscriber continue providing on factsheet. count our we Online

last grew encouraging behind tax shared revenues a we’ve Consumer made and Consumer the successful in progress quarter, as the XXXX drove to fiscal XX% of Turning priorities. our growth, strategic innovation had season. as we and we year each customer Group, revenue

Our of team innovation customers’ is season. actively developing serve our next to the better next wave

our Mint about season. excited the changes business beyond going share I environment, regards and offerings tax With thoughts to to effect our category to We’re further external for legislation on ahead the Turbo opportunities transform Live tax. expand TurboTax with the to to assisted want the and our next

make easier consumers. advocated long is simplification. understand for think to good taxes for have to We tax anything We

some risk change overall but choose for As a of standard trade you does TurboTax as more an believe itemize our tax growth legislation won't to be our new people we number in the increased offering to assisted to DIY larger aggregate, catalyst deduction. solutions. will be required digital from know, customers and deduction, the down introduce category simplification so free adopt paid their This

addition, a streamlined has schedules. one developing working and tax In internal six consisting been filing of revenue service supporting the on form summary form,

of In our products to to IRS to date next was expectations and Strategic ensure fiscal slightly up in year. X% the season. revenue later the our we as with share information XXXX. our We’ll when our fully understand more that as and forms, XXXX grew closely our revenue the working do Group, for every our forms We’re year this are of ahead year tax changes offerings all Partner introduce professional we’ll we

goal strategy our We the our books XXXX, continue at to momentum business focus ahead. enabled on accounting fiscal multiservice we’re time. that and account to This our and business one Putting gaining our do taxes. year small while firms with refresh Ecosystem Intuit opportunity year drive growing both ecosystem significant us One a into around same success

and our lines through by ecosystem across on our over offerings, more Capital our This me many as overview, product self-employed as creating We see to We’ll you well includes newer platform, of others Michelle solutions. to connect on walk as the as Advisor ecosystem our details. With such partners share our horizon. financial Turbo, our We’re through Pro products and TurboTax customers, that hand these Day. each opportunities offerings connecting to bundle. at and progress TurboTax our let our line who with it QuickBook such upcoming Investor matchmaking the value activating offerings our

Michelle Clatterbuck

Brad afternoon good and Thanks, everyone.

XXXX under comparability. standards XXX, the revenue XXX call, As year provide the I’ll under historical for I’ll also fiscal both the XXX. review and standards quarter ASC recognition beginning at of guidance Jerry results our and fourth mentioned new

share XXXX; delivered year-over-year; results of $XX share up million, for with $X.XX, of of a for loss quarter earnings XX% per $XXX start a the of million $XX versus last GAAP Let’s year; million of we $X.XX non-GAAP million versus revenue year a $XXX versus diluted fiscal loss $X.XX GAAP Non million fourth income $X.XX GAAP earnings and a year. year operating per XX% $XX last ago; diluted versus ago; up

billion, we diluted operating fiscal of up income last year per non-GAAP operating year. up versus share $X and of XX% diluted $X.X $X.XX, income revenue non-GAAP earnings delivered share year; year of versus GAAP GAAP XXXX, $X.X $X.XX up up XX% billion, ago; last last billion per XX% of earnings full versus versus $X.XX, year; $X.XX For billion $X XX% a year-over-year;

for Quincy, quarter The on income As in tax fiscal that the of fourth of offset recognize the quarter. per charge center sale GAAP year and Washington. the this and XXXX charge by previously our from net our benefits data $XX was include EPS in announced share million impact earnings

business the year, XX% segments, for Business and and compare revenue XX% to third growth this grew the fourth in total the up Small revenue Turning Self-Employed from in XX% quarter, quarter the fiscal grew and quarter. remained growth XX% for Online the to ecosystem XX% in strong XXXX. year

For fiscal year grew over online year fiscal with grew XXXX. ending XX% quarter QuickBooks from in XX%, the X.X ecosystem subscribers. subscribers revenues Online million XX%, up XXXX,

ecosystem Desktop X% revenue ecosystem in health the X% the our and to we than to line is grow best of which believe quarter online fell continue growth, and forward the fiscal the XXXX. of As strategy the in XXXX, Brad units in expectations. which mentioned, fiscal better with fourth revenue was XX%. XX% year and grew in expect our fourth going success we in measure Desktop year

XX% single Online we QuickBook XXXX, X% in customers online professional X% desktop and up Desktop online TurboTax and of QuickBook roughly our QuickBook year and to fiscal for unit customers had year growth unit QuickBook and units For Group up desktop with The The XXXX, X%. includes year total expect customers, Consumer grew paying revenue Group revenue fiscal grew up XXXX. X%. QuickBooks’ digits subscribers. in QuickBook revenue be decline to a flat. Strategic tax million paying desktop to both Total units year $XXX Desktop strong XXXX. customers, posted XX% fiscal ecosystem Partner fiscal TurboTax compared were revenue Including

on capital that financial disciplined in Turning to greater investing a yield to generate we take than the we continue principles, management, to cash our return opportunities approach XX%. investment

During reallocating year and globally and these our learning, intelligence we and and X to Web We operating accelerating priorities, resources to sheet. Amazon organization the artificial $XX fiscal strengthen from with we brand begin fiscal our engineering in the approximately non-GAAP services, our charge XXXX; operating year up several XX%; transition on to focused effectiveness including enhancing year that strong effectiveness efficiency. in XXXX, our income X%, capability investments on you told accelerated GAAP and increase coming growth points to $X.X approximately we in set us including We points enabling the key saw of XX%. finished balance grew billion our At of income XXXX, fiscal investments revenue to expect our X in machine sale momentum growth in cash years. million our initiatives beginning year to the marketing increasing deliver to accelerated datacenter; this growth

in that Our cash priority growth. revenue to the for and remains investing customer business first drive

billion business the accelerate acquisitions we use shareholders $X we share and XX, invest XXXX, approved Board represents total in fill including us prior over dividends; our growth amount the out via dividend excess can both we shares, new cash per billion XX% repurchase payable authorization; versus $X.X year quarterly million a repurchase a our and October of XXXX; roadmap; we authorization returned to fiscal during repurchased on a of last to to authorization, year. repurchases share $X.XX the Next, the that increases of our giving remaining $XXX profitably this Board a approved product stock

I we recognition standard the new revenue adopting As year ASC mentioned, XXXX. fiscal in are XXX, for accounting

$XX fiscal million and We statements in an will result year The increase comparability. previous in for be and of $XX will of XXXX. of results forward, in revenue provide going under standard will year revenue financial to the expected XXXX in be our a standard decrease restating fiscal new years million reporting this

how flow. no change has cash and on is for accounting customer impact or we're revenue XXX, an this account While we only changing under billings

for recognized will XXX materials how and The is is for for our QuickBooks desktop units, and periods. XXX. Desktop site season beginning QuickBooks online revenue primary rules and primary The how more with Desktop in is offering of we account What subscription revenue change under and revenue consumer the recorded changes the offerings tax briefly, more revenue Investors change section desktop the tax consumer for payroll offerings. be will in earlier highlight that offering not be new that and professional all more will I'll Web offering, review under the units for and addition, payments our the our of will In change recognize subscription please professional desktop at the we under detail. tax QuickBooks associated change. Desktop supply but

GAAP $X.XX. growth of in X%, loss to and impact QX per net be standard. of approximately the our reduction revenue $X.XX to a to XXXX to a X% versus expect share XXXX of earnings growth $X.XX We adopting point revenue fiscal in fiscal the $X.XX includes XXX year per share Under X guidance non-GAAP prior XXX, of

While we’re higher fiscal have guidance XXX. year under our been $XX QX it providing revenue under XXX, XXXX quarterly is not million would than guidance approximately

share our subscription fiscal perpetual QuickBooks license X% GAAP share revenue of details expect the desktop per to decline and moving XXXX better find $X.XX of single of XX%, customers. our our and Company QX change to license can XXX, XXXX. in XXXX, fiscal factsheet. You QX our more comment additional on $X.XX to release full and one enterprise total fiscal per QX, we we $X.XX a $X.XX. just press fiscal And under from XXXX year reflects ecosystem in guidance digits in revenue This to serve term of to growth made offering our a guidance on XXX year year earnings to includes Under non-GAAP earnings

expect XX% forecast fiscal XXXX. guidance you compare of providing non-GAAP help tax rate XX% GAAP model, rate XXX. have we’re in for ASC We also the with and a a To of under your tax you

turn Our non-GAAP fiscal guidance per full $X.XX to standards With and of share share to $X.XX per under of year that, back earnings GAAP to total Company I’ll growth the revenue $X.XX of include XX% historical Brad earnings XX%, $X.XX. to XXXX close. to XXX it

Brad Smith

XXXX summary, seen revenue Michelle. in in posting strategy a One year fiscal takes we In Intuit our years faster Ecosystem as thanks, of we pace Great, growth several strong shape. delivered than have a

chapter. on powering next around pursue Intuit lead as Sasan let’s news and is other next the now With shift have our prosperity beyond we of world. We executive continue we mission overview, to our to the right that announced fit sight today. year the in to our

a At strategy. instrumental One he years each During has deliver and our as as Company, successfully of been with who had of transformation strategic forward our his his of looking CEO our Company and Company of built in in He major When teams led and he I Sasan has Ecosystem ability new am rigor. Officer. Intuit to served architect to the his as confident high Business key I with Information well performing intellectual in a and into XX results. with Group. curiosity high role the Chief businesses the operational role. of our on the to am engaged the by leads another and He and over as humility, the stop, every amazing highly Alex years. Intuit Chriss of is succeeded General will be Manager Sasan new working past record Xst, the lead steps XX success with track Self-Employee Small stellar him Alex and January veteran

years, our has Chief our Officer place. a leadership continuation we’ve the culture Marianna artificial to past Today's and planning in Stansbury a is enduring their over and X, works to our announce cultivated to succession product strong XXXX. some innovation note, self-disruption. for growth, accelerated Technology serve want from journey at next platform our today on many has XXXX. deep a will in long the as successfully that desktop built time. we’ve in cloud history company amazing to strong a move who generation contributions the Self-Employed and been have before be We also This leaders bottom-line his a has his multiyear a nine January. built down a and and software let on that bench. a evolution I global management the leadership in another as transformed January line thank Chief And take a of the as cloud. stepping of leadership machine the that top those We Product and company. since learning driven us built Tayloe North prepared in Officer possible intelligence transition it to on consistent of announcement Together, CTO a We Business deliver advanced for Company We’ve process personal has to foundation Tayloe as and of Tayloe is and CEO development been that will privilege Intuit Small Group for successor put having team. be our American the Tessel, Intuit’s place platform bench current an Development company,

have look better felt I I Intuit’s ahead, As future. never about

your that, open hear with on So and let’s what’s mind. it up

Operator

Instructions]. you Thank [Operator

Our first question comes from the Keith of line Weiss of Morgan Stanley.

Your line is open.

Sanjit Singh

Singh a this TurboTax Brad tax, is could and Live. Sanjit year strong and a for congratulations guys see lot uptake This you start Keith I to of sorry Weiss Sasan. Brad year was go with very maybe with you saw and

little coming year in As portion tax? see What more that tax next Live demand of TurboTax tax of with a the that think from going of for you can do the filings. think into are benefit you maybe you implications the about consumer simpler portion the changes from terms the

Brad Smith

Sanjit, encouraged TurboTax Live opportunities ahead. look as about in performance I we would by tell very we’re you we’re the optimistic this year’s

be you an around they a to solution today to the who expert tens than some willing actually And have mind. do there back who of the discovered use are yourself. access prep in assisted to their they it just As an will it this, those file who yourself have to that using tax may people millions do more put questions know context method we answer if use

talk we’ll they baby Investor to retention stock. a proud tax this that those the we Say. strongly, each up $XX billion And season at our have improved life TAM. even of retain introduced And change, like opens we we could they more is when I’m So had TurboTax very X we year two Live a who about they actually that tell sold it customers you million leave when hypothesis, had first past this first year, or in more

tax standard people a to could But TurboTax assisted to enter offering, was the surprise Live occurred out method Online there year, and method start so in indeed million hypothesis that time. tax at stores the versus increase X X season. acquisition Each attract for TurboTax an be tax proved true. both this of assisted And people was filing XX% first one second to hypotheses of other year, TurboTax process the customers more into to Live. we TurboTax did The

gotten franchise. share we solutions, a with pulled We in first have TurboTax digital actually Live, our filers always but disproportionate share fair time with this

in improvement first seeing execute increase method an confidence So next well. time using we're lot of disproportionate potentially Live share TurboTax a and we to game of continue a an were acquisition that that if we’re seeing those assisted us seeing filers retention, who beyond could we’re from year gives and changer a be

Keith Weiss

And side to sneak growth Are the also more a subs, year relate overall might slowdown see your growth your bit on and those maybe side I in little as that script efforts, in you QuickBooks just international that versus slower international Self-Employee year. the particularly well? strong ramp the or one to saw mentioned next the some with does markets expansion are to you Self-Employed? QBO on if starting can on you slow How last

Brad Smith

I appreciate the question, why set decision. around we’ve and let context this me some made

do going the business growth Online forward, me the let ecosystem the at and why. of explain health we QuickBooks believe model the that is next fundamentally online chapter for measure We’re and appropriate in evolution revenue

we to international talking call core we’re U.S. the of expanding fall. in now used starting QBO into Advanced, be QuickBooks mid-market to enterprise about to customers the from expanded self-employee serve First with we’re an or the going with more space and Online that the and group foremost, to what now we’re

expanded stream. customers so revenue with coming have of gone an And in different group each a you’ve to

growth only also you On own probably other growth. we’re quarter, this have very standalone doors accelerate and those that to can side, QuickBooks saw the online That's strong XX% introduce not our beginning as payroll attached we front Online. unlock services in ultimately which payments the their services

starts to like put of you muddy payrolls. things subscriber. or that think what's online together, to payment of it So When the start the definition go

net this about. in the that meet measure net number year or of we thinking if we’re subscribers. end a new and franchise. every give customers not day, think three of most we we revenue mindset I subscribers those least as growing we the comments, the we million very that delighting at measures you intently what matters of disappointed new we year. our that are we and are will it’s so X next my taking the we're added I geography, we promoter whether mentioned measure are share do are in QuickBooks little exceed we accelerating this that which net market indicator is in best that indeed at know Online growth. I'll And opening we personally add as Ad And be

is you very what we growth, say give that accelerating. So growth business that’s with mean will some we still ballpark a of strong when this moderating

Operator

comes question Pfau Blair. Matt next Your William with from

Your line open. is

Matt Pfau

few wanted I the side. tax a to hit on

of shift Brad it you So that I guess assisted a is and mentioned terms just do Group guidance for -- category more of in the that yourself. Consumer from the of part the

the -- it drive tax become into it assisted of guess make your they creates would tax you even the channel? those I what codes terms drive about though every simpler yourself now. What the season, sometime. in guess simpler, -- code guys way then do time the more And I thought customers upcoming tax the So confusion

in did become bit factor being code you more confused the to guess maybe has Thanks. response how simpler? I a even though tax So consumer

Brad Smith

decade So first yourself of past all, we’ve the it seen plus. do shift over a in secular

because the TurboTax And category of come us touch at millions outpaced question look to unanswered of hey, of customers those tens of always to deduction. an turned more pretty significantly. source people a year just then to simple the screen there yourself tax them can whether we’ve to whole in has publishes expert a to that into each as tax you the have If just its with were going have add it with assisted of Live, a think experience the that or answer my the growth, discovered get category still we’ve I numbers but we claim assisted start IRS allowed untapped do new the to method question, a opportunity an XX, that kid category. prep And that we CPAs a found

make are how to the apparent but So to of and two with deduction, TurboTax government expert, saying, our get I lot on the of choose, ahead combination longer very tax talk you has a and you your after willing drive we customers now to simplification go for things. service say delighted am qualify look we your home, have think standard I why paying to who a people to you in the someone, to as behalf you at great a The process from about a be is I you have use actually more hey, a do an question solution. on can if should access taxes can it do could the doing to pajamas may yourself then but And I those think convenience say, my want have own, do don’t for who store, this, to. can I consider I we’re it going to I no

said, accelerators But people and a one of this confidence doubt. there’s franchise. people with years to Care done ago, to will the And several us have lot there’s a going uncertainty gosh, I And and of the people enough fundamentally cause to so competitors to season. have us to to things coming that correct, tax out fear, give growth that always this you who saw lose say, of get anytime had greatest own. to a we for And as and actually those here my this was it’s we’re confidence, we’ve our reasons desire going on in Act to you’re two of believe are have do Affordable change try stir

Our they that to through that team access sort uncertainty an answer it fear, themselves have to and let do or whether want for is an expert. people them, poised we and know doubt

Operator

you. Thank

comes next of question of the from Jennifer Our Lowe UBS. line

Your please. question

Jennifer Lowe

a a with around know but to us to I I a while. going lot you you’re been you. for of And for Sasan, first, you. Thank to Brad forward big I’d still forward. But quarters, working say and couple presence miss going more look like a for you’ve we’re

higher higher have transition to call, with that at in line. want first. Online to with there. much on least that digging -- say as been payments, discussion the maybe So online few the circling strength your comments seeing the And the a I and and disclosures years based was around know bit message on rates earnings Sanjit's just a little in with opportunity you’re question the the services into rates just ago a revenue your payroll, attach so since point get collapsed of been maybe attach on back bit hasn’t QuickBooks

had would? know a little being ago the line think mentioned Or contextualize maybe that of originally? you is beyond happening acceleration maybe something there hoped that’s the thought later versus we own there Online I didn’t you that ambition we But play front few years a If the out item? -- attach about am that vision QuickBooks original that it, that of it having that in out rates of just trying is a their services greater is as commentary. that around to today’s than some starting door’s to I play similar

Brad Smith

varsity first all, and the to Thank then exit Sasan I more you, stepping will a you kind have Jennifer. And right, will of and varsity you’re comments. for and in. here the field, your excited junior take quarters thank am be I’ll for couple And

we’ve model about blades, very and razors to model. the and get played out And well a it’s years, over you and that first our razor over been back think attach the If era. blade and the thing the is desktop go after that

still new the how But at payroll self-employed really Online attached are aggressively moved than to online and payments the we’re XX%. grew up than the we into gotten faster online, on Online Advanced. QuickBooks midmarket same capitalize to into quarter, past This As markets, we in faster and time, wiser we’re we’ve into razors, opening services. with XX% grew QuickBooks going now moving gaining we’re

first experience the QBL. opportunities it’s we our for the to going opportunity go introduce services then for his you think that's have payments payments to be these an us really And our and payroll unlock services Now give customer, business. whether new or to accelerate those

a smarter accelerate. chapter blade see have do business. the more we become in We razor razors, now there’s we of important. that are we And So grow left entering game where the continue blades and and you’re we’re are to and that in going a to feel gotten like services online expect but now lot

Jennifer Lowe

quickly just to maybe follow that. on So

evolved landscapes number the there how a over of SMB that in particular last growing feels at like look you If target payroll the is it the providers years, space. few

just if you can I sense like it with you the customers a payroll, competitive over give QuickBooks the time an where dynamic how Gusto horizon? So have feel players payroll. lot makes that in visible update given leading of on there situations gotten what’s about there? But Obviously, use to landscape am you’re more curious for

Brad Smith

team and still with their Gusto with of good businesses Josh out at them and worked for all see XX calculator. do spread same friends, sheet years. we’ve Four a partners, payroll opportunity. great of the But a us small

the payroll Intuit as come that help much opened know So as not penalties game, we these One sum mistake. our zero into a opportunity as their platform. it efficiently is interest And get there small you moved up more then strategy, much so and a done avoid to businesses is this we Ecosystem and

QuickBooks work they Gusto, to with they is regard; services points and we service, data Online is able payroll, can exponentially, whether those want; the second our build online. things attach they one QuickBooks ADP, it. up customer and a the that QuickBooks Online the built up use will our happen it second or retention of competitors is one And goes make any of use XX choice use into can in flows of the can over they when that two the customers So then

that actually with use to increases as to And real have solution we QuickBooks So were digital to right that partner, of out us well, into in the spread best that we win. all but sense. this make But it’s always market as the do be going competitive up if from And we’re now, yes, get the and they customers because sure Online. sheets market. that happy then a is to the a a the retention there, of alternative trying make

Operator

you. Thank

question of Brent from Jefferies. next comes Thill Our

Your now open. line is

Brent Thill

team guess around think in some changes those a Can I number just varsity your I now by investors maybe recently. with just you team positions little look what’s happened. revenue, Obviously, three are your top happened corporate the you a you’ve what perspective? varsity maybe junior of to that we maybe the had address, question there’s if unsettled forward Brad, does. of positions. doubled just But walk through have Brad can the why seeing athletes great turnover that

Brad Smith

Let with me start first the broader prospective.

have opportunity actually that as design. believe know positions that been run have things. before became by run then the is seen years grow and leaders we us, rotated businesses for a you and years. We our by of As over decisions three between CEO greater XX bench parts the I them to and process. different announced ago, prepares have you’ve been These the we’ve the develop giving company fundamentally to multiyear opportunities that them I

as set make of well the are needs with that get north what business as leaders so the the decisions discussions individual’s what those a very regular both and say then ahead, We we lined and the true all as we personal up. look have basically Board

you’re know sequencing multiyear me at inevitable part all have planning of we is to going been upon based these a a so that that’s they've have and point to these succession moves, comes say been that being When personally we it decision. The art real process. jobs to some And goodbye. all

would feel we year; from like leadership so to I place; day; seen everyone's have him they’ve chapter all; this up, Day; crossed me an internal place; next with years have ago, has transitioned wanted really and this a the first the do seats chapter set to the time; is ready second is, right is place; is those that chapter leader put and ready; to at I company than feel look when argue liability. who terms having always of and run already I they’re couldn’t XX And day our at the like lost am I simply they really this to you leave in the really is and in we've maybe of only going eight that the two just I he with Investor I because I veterans; Information good was leader, as asset also And been not Sasan year I great like is complete learn markers got is and finally who've of I I next the that line. take were a step think seat; they’re confidence year next I ran out team company the being a mile in now have the been demos; set Officer, is, successfully that chapter. people know a encourage veteran that capstone a I has athlete Chief or of businesses feel like the And ready assumed I of why. that next so this many strong every has Company hope anyone team; we the than that in an I everyone the And them decisions ready. third more them may you've would there and when be never unsubtle And part for that a more path. a one; I point wanted to as may I think a feel the these run primed. served I And to really me, growth from is be that's But Company Sasan XX

Brent Thill

just quick to it follow-up as guide. And Michelle, a for relates your just

in old improvement. the pretty hovering guiding rule XX%. under I years right modest think you've four It's margin you’re been around now almost

get top do When get is the come Some see we line we questions but line. other what bottom the to about lines that's through? accelerating is bottom great,

Michelle Clatterbuck

have the We we growth feel guide. really about good in that our

talk growing double-digit income strong And growth. than revenue op year, you This our and came revenue income XX% we to faster expense. with When of growing want financial revenue go principles, about growth. growth we back right. You’re in XX% op in the we mid-teens,

our for by expanding we be next double-digit range; in see the is margin operating guide; to continuing and margins; year have are XX to we expanding revenue You points. XX basis for

And of about the Brad good really as very opportunity said, business strong. The for there feel us. lots is guide. we is So

Operator

Our next question comes from Ross MacMillan of RBC Capital Markets.

Your open. line is

Ross MacMillan

real in season, year, was range, think Sasan, it’s And narrower a was the just start things the pieces me. have can forward. last tax Maybe may as struck was so to Thanks gone with so, One but thought closely Brad, you much. two for or have normal. Brad, your years other guidance And next pleasure given actually I more look for forward I moving been I about you going to consumer next year's would working actually over than way. XX that

actually to QuickBooks I ancillary online got ecosystem. sense to revenues revenue obviously So your then about Business love how it get different think just the There’s compared to into up And think desktop about big Desktop you inputs today. relative that. on business, thinking -- almost would we on QBO Xx, you And to second just of as are revenue. the Small gap a if ancillary

there’s do you that So just for a the think online if ecosystem? curious of time as was type over multiplier, opportunity same will, Thanks. I you

Brad Smith

been Great, decade in it’s about with and us business well, think work you a you’ve thank ton always a helped different this you, over Ross. past as you pleasure way. learned And from the

Group range code. zip with the Let me the Actually, is Consumer in the data. same start

under days the it’s confident. out Do business. nine But nine looks other we good you rounding will Act in to And if is it’s feel also into don’t wiggle momentum room we to you of XX think positives, this a range. XXX range a our more have actually same it’s do what typical, read XX, look we actually slightly XX. confidence of a that’s fiscal Affordable but year to just know there’ve as is XXX at how is just it if into wiggle out We season, the second What the give the years band, been have If this us bigger do will. to But you like enough really had the basically is a tax under high broaden that’s our we that the because with we’ve should level hey, look work and to it I about head we what nine we right Live need coming feel range even you shift where back, XXX, with coming TurboTax and ’XX. the room? it’s we because now what some thing. look we little early Care at though were nickels,

got install blades simply And that big business, And our to business made two desktops about the around lot a time second point you’re accounting services, online and ecosystem to of the drove base. what was. number by through correct. years. factsheet your payroll the and out stalled where then We businesses, then of one for that with we payments went lot growth On on our period at we into selling and had of be $X revenue million razors a QuickBooks a that Xx about

of We’re We QuickBooks still not near Online. yet. chapter in lot that growth have a

and And in and comes now start ARPU. the market internationally, Self-Employed core which it much with are markets the got entering We of still we both we however, We’re with online At QBO. same a we’ve space, sequence the mid room did time, capitalize the opening in on have higher lot still we also new to like just grow a to U.S., services. can day. to the back don’t

you’re going very and I get capture I continue you’re yes, those grow services meaningful. to we’ve to well. going to over But where point them anytime see accounting the as accelerate over accounting don’t opportunity long-term, with and out and become that lot to so think to soon, because continue to we’ve the Xx see believe the greenfield And got a there of got go and

Operator

you. Thank

comes question of Sachs. next Goldman from Our Jesse Hulsing

Your question please.

Jesse Hulsing

going this ARPU apart. you and it’s drive part assuming it is helpful to year next you would big mostly if ARPU potential of down? components Sasan And Is that I'm Thank First What I’m do Brad, It good the are? on like again a break the a to year? you. mix Live. that luck. ARPU? again stripping been different story will be you’re think you be price could guess, are consumer I the the with pleasure growth What thinking listening versus see take units in.n you out it’s And that guide, sure that shift,

Brad Smith

and Small and it Business then appreciate And to to deliver and I seat. also kind with sit strong here for he’s sitting Yes results in anxious Sasan words. in us the months Self-Employed and few the excited and Jesse, is another continue

So Consumer Group. back to question your around

of unit will to more will how you over and talk what four category we ARPU for from was that ahead as about unpack of Day, Day. to get when expect grow; will it But to what Day Investor for do the look think so. ARPU. is And from couple be to I at come we Ultimately, business we Investor growth higher units than we’ll on want much that Investor growth point. Consumer plus Group the long-term what days see the total is actually years. at in levers; XX outlook this to in includes going growth we expect here the much category last think growth just this you do next that what can I group, five start get at don’t like; this years; of then we returns yourself can tell it another outlook the our do what We’re IRS do or how

Jesse Hulsing

other distort cash side. What in flow flow on with And a I'm ’XX? XXX cash for of growth companies. statement, lot we’ve Thanks. fiscal income Michelle expectations I the understand the seen are operating your wondering can that software

Michelle Clatterbuck

was abnormally cash more and would from year. -- this an benefits a it lower basis. track XX%. flow benefits forward, that was rate. income forward But tax had We cash to go we tax had But was look some our got going operating of flow higher, you on closely bit expect that operating we a non-GAAP In FYXX, operating of because as we quite the

Operator

you. Thank

of Our next from comes Mehta Kartik Northcoast question Research.

Your open. line is

Kartik Mehta

year. really this think last at looking the you don't at Live. look you season tax as marketed TurboTax I Brad, year TurboTax Live,

or think strategy you a into think last that As which you year, you use you changes going this do you did year? to do similar

Brad Smith

correct. you’re Kartik,

there’s As traded afraid last our be it TurboTax we nothing to more that about it of, a and was wasn’t around year, campaign this as but live. we entered VX, explicit

on you’re market get point plan to I closer have effective to we’ll bout making. capitalize opportunity do. as this much point we the we in more three we But to that we learning an start know more One to year. which As season, share we unveil will go at of targeted what major is what into TurboTax is that is, next live

The a who one, have of consumers. actually more season, There’s second were those We opportunity as that TurboTax the when as experience early the the season who entered the of is part that improve the the upfront complex of is end we to questions well. there back version an the we questions seasonality. had Pro for many a really people had we We filers. understanding will the while good year towards just wrong. better answers third thinking want were Live be And

over lot that improving a spend summer we Pro the of So time experience.

Live. focused three with there new tax we we’re category at areas if will looking awareness on. a and helping do are those So TurboTax create big But absolutely messaging is our to marketing be the way

Kartik Mehta

the price customers for lower your maybe new just Brad to into for might've taken trading risk your tax law then maybe SKU TurboTax? And guidance? there changes. thoughts is And the think account in how with you down that Do on

Brad Smith

do. we Kartik,

we marketing middle better, the middle. days There buy product a guidance we that had have the a people more a you learned We that into that a shared We’ve is it good people deduction standard that up, shared aspirational this an line move you. when of category all will. if is know the our that opportunity buyers. down, to In We’ve they group with have was always customers incorporated they there best in that fact, many qualify. we call in

of for they could at end buyer the But deductions is there going something so we actually to or access And factored may and the downshift to get they’re the of knowing bigger same we discover the in the assisted digital sit going that things to believe who else. confidence they’re or qualify tens be an category, people into to that may that inspirational the the millions standard opportunity solutions. day, going and in get

fiscal you so have And you provided it when to year 'XX. leads think guidance all for we we it out, the for net

Operator

Walter comes question of Citi. next Our Pritchard from

Your line is open.

Walter Pritchard

look get just numbers the to side. and wanted numbers, XXX I XXX at -- business to -- the for and look small On the

the backed the seems basically of And saw 'XX You to range rate like Business. down it end prior. like on acceleration and you the in in you’re saw talked you've to fiscal there the And you about acceleration, guiding Small Business it got be the feels some Small you saw is for growth the put the where would measures? underlying Why drivers it year place growth was you here. back be before momentum call in high these

Brad Smith

there, of repeat just missed you question part I the Could the it. second

Walter Pritchard

small at to in 'XX? saw business the you decal place that for why in put or some like and this make of the you’re just your year. is rate below that things the was I 'XX. which is you on would It XX%, of wondering back that feels yet in end And levels you so durable, saw -- Small acceleration XXX, Business grew you fiscal calling high some guide you guided down

Brad Smith

of over some opening there. building Couple and new momentum moving the up markets, of on things in into pretty growing and are Advanced we’re the healthy SKU Online .obviously, then going QuickBooks on numbers. process

adjust say want often have get us QBO and a in At as too feel that Online read past, had the the 'XX enterprise U.S. to make real you'll the and get because much words indicators good of to in the provide into to season. learn what guidance, a excitement over-read luxury I that have this Advanced, really Self-Employed Day, internally, into end year lap enter I’ve international, Investor the or sure to have If chance about the rate. we has the in a strong and the as don’t growth there way we've at And a fiscal I I There want growth. tend in see time, which in day, being same we growth high that. prudent. around leading to QuickBooks when good a as to the that some so right is case. one, bad is get to to momentum numbers feeling we version. the concerned and ourselves combination or drive the we’re drivers the numbers. The opportunity got really low And rest to in we growing over big of we wouldn’t fact terms opportunity get to pretty it guidance over of best And But is anything, the the end year end you of we a those when to is we want give that nothing we which prudent we the might of and the to used in our be we us

Walter Pritchard

to And are to business with well to on staring great up into there international 'XX? as domestic, But international I you around can that we some that open international and then those would be -- keep growing sense have color the of other Brad here are any give markets a pass great markets subs. starting growing of now to help that a mature sense or side, ahead guess small its us the

Brad Smith

we’ll Brazil, we're expectations country steam. performing same as the only in we're even in But remains get exceeded result talking they’re Canada stride, strong Australia The new at France. as that in business well has be a up our been the that has UK the and At fall. and by more seeing really that and encouraged very and level time, picking

early the market in of India. in still are trying We the product days to get fit

and on a who have work powerful products. of We the X,XXX our team engineers there of rest live

they’re committed us so to found And fit. product that markets helping

results to to terms countries be So as terms get the to able forward to and in would momentum on momentum. the continuing markets net-net, But for than out light are being are on now a green the then just real other is the not marketing. United call now, how us lot fit they superstar in product change of there the close I of of and Kingdom strong right build right they’re

Operator

Thank you.

of Our JPMorgan. Auty question next comes from Sterling

open. line Your is

Sterling Auty

received of on Live. TurboTax us review pricing maybe for into you by new how to back tax the one questions, market season? pricing the Live the Can Two on TurboTax it was and moving you felt thoughts the

Brad Smith

TurboTax This you would assisted $XXX, tended right have or lot October to extension peak, to past of what we a net TurboTax to we went is store call in on was what now go it you to which out what enter about ran Live. to What if you core pay But turbotax.com third a be see but a may to Pro. experiment a you you year, if premium season. it discount was average, is an which we if

not lessons TurboTax can this attached we be a itself the of service skew. one year of It be TurboTax to is a see have in be rest line that does actually up. to the going can the single learned and You’re Live to of

basic can one out now the tests in many right of running assistance Live TurboTax it’s So going what we’re around and to with TurboTax at you there is you’re $XX. see now now have

can You do it with can Self-Employed, that it about SKU all to up makes and up about of Premier the goes then course which it even $XXX. you $XXX. And to way take

service, the So TurboTax TurboTax think to tax of bundled as of more more in our filing at complex. the you’re with whether simple core the SKU being an add-on Live now end

different to take pricing a this approach going you’re year. see So us

Sterling Auty

small then And business. level one question around real high

environment seen. the thinking of we positive? highest is rates the business that NFIB levels on Optimism within be Should at so that the peak actually we’re that Index growth We’re because at small ever

Brad Smith

first of we in come love Yes, businesses. entrepreneurs to and out five because businesses small optimism appreciate follow numbers, there’s design. don’t going One optimistic those the having the credence be in that and that seeing years. for fell a it’s years, by as high other small very celebrate We and two to this in you growth person. of are we who the confidence are know put sure we rates and And NFIB, about always lot

cycle that right most also The while now we other be downturn. anomaly. actually that the consumer a their tell XXXX is to maxed thing couldn’t at that high, or would were really driven a and was the business formations small one counter out are which tends sector was cycle, And confidence they in the have a small are business did We you credit cards had but because boom But a latest with I know get certainly we for downturn any downturns that catalyst financial formation. was loans melted.

If tend other formations you small the look all to recessions, back to accelerate downturn. business in

small and big more reason right confident to go tend off tend they So seeing start robust I lot the say we’re a to coming people tough, up, businesses confidence, small going jobs own laid business. be if to of now to we’re don’t have think that we their a by us while that nature. from get think absolutely drought because gives any get And even things

Operator

you. Thank

next Panigrahi Our Fargo. from Siti question Wells of comes

open. line Your is

Siti Panigrahi

share think on term long you the opportunity in consumer, contribute you Turbo When about more starting you initiatives, consumer we to you do consumer of and the getting selling that of from when about think and DIY a category of assisted. when about But meaningfully? from to on leading consumer think stand do -- And Where app you’re try the some a those like platform. vision? talked should

Brad Smith

beyond effort third become have tax, to tax and to strategy; extend a conversion, data the significant talk course share was to got deeper begin assisted lead the to expand and a that for credit better yourself to rates, do consumer begin a juice And indicator lower the We data to us. as software consented of like who we our when the of first at their and financing, so transform partners version we much is tax category; get the loans, customers, in consumer refinance for and confidence from people but to card to student continue in mortgage first Turbo second Turbo about the more look only business consumer was not are million work for platform, an you those XX and much access really for so And strategy it in them; with leads then The this its qualified experience Turbo had, with in lot eight year. partners. an the on is to our also Turbo of the tax excited their lift are of a to part is XXx richer. first because year and TurboTax is one

partners a the and getting So lift. are are the better wining consumers

here think gain really days. is we and So there its early

catalyst when we us a When anything see well. In execute small amount. to if into to growth continue for baked business. three it’s going be to the look comes years consumer terms guidance of this, next for haven’t revenue, to we we do this really very What a think we it year’s could meaningful real five as we’re out,

Siti Panigrahi

of there discounting. baked the and last promotion the color I experiment you if guidance. in some on of some doing into some found terms of wondering And side, was what you your you’ve then much and quarter could how talked that like QBO give on --

Brad Smith

always greatest of multi and We growth. we the the greatest and can get where our greatest AB the run Yes, test, optimization lift tests. and cell we’re conversion, we obviously revenue look so pricing promotional running for

and the on learned we’ve somethings, core for bundles Web about discounts the business, we some should speak that make But learned that we our continues and things most make that’s gets lot what that’s team you how learned Online we as we’ve and to testing both accountants say we also to site QuickBooks offer have the now. just we’re some closer We the small continue And as may deep adjust a reflected also fall. about know the to other important running everyday need long of scenarios in things pricing and get how we sense. important bundles and drive the and to acceleration But tests our in discounting, I would smarter what business.

Operator

Thank you.

comes question MacDonald from next Analysis. First of Jim Our

Your please. question

Jim MacDonald

you the Brad, about you’re services side? thinking how price, with tell on small could us especially business,

Brad Smith

with to it’s cases chose been services us, don’t chapters you company, one before demand Jim, run. and but to look I and it’s as great We even at this so we well go to you the working in to been some want a you good and date subscription. bundle I of back

not is get you the because that think we For what customers. countries, market adoption different get dictates to example, the when charging be thing to UK, payroll of we may the payroll or in for the what right maybe

country But pay really use one begin days; for of XX you I services. get then a to depends interest the upon and the market basis, real by So go today they point; to we’re answer in them ahead a it a the that each each free; we pretty it it case going with us activate tell can in. and they gives they low see a services And they like can and it varies the what these in try in and is customers really and if forward. would by for the can chance they can support. it, the of but will case service friction come one attaching market

Jim MacDonald

Then I for little XXX the you of talk And a where can gets expenses XXX bit of under expenses? we've a had Michelle. about follow-up on cases mean impact spread lot out. I a seen

Michelle Clatterbuck

maybe at for completely with an it with folks XXX, for when has Yes, situation the to some only impact exists you had for just do sales look us. the And other immaterial us commissions. real that impact us

standards. So either take exact back, the a under our that at expenses see if accounting you you'll are same basically look

Operator

you. Thank

next of Barclays. comes Our from Lenschow Raimo question

Your line is open.

Unidentified Analyst

of more Small for Can but Self-Employed Self-Employed, for and in is you international ARPU just you it’s talk increasing about the there or curious maybe if at Small parts about cohort and been talk about I'm decreasing? Business been versus growth are [indiscernible] Raimo constant ARPU if Lenschow. This some moving that math shows could our it's level Business.

Brad Smith

by chase, and I lead. in cohort If ARPU of they quarter revenue, will of couple look could all a cohorts core and It's here see and lower be them higher that had ARPU introducing and provide stay it growing and to XX%. we’ll when in attach flat why international I tend in continues in units, improve. in it's you Day, on some had slightly to Online QBO of When average, grew going to another parts into XX, ecosystem cut fashion. to and in enterprise does are look an think and each the have put that of words, be internationally, to a get you we've about of is growing QBO look mix with do same less stronger deep ARPU cohorts. focused like and pretty the self going which the which employed stronger. ARPU. what's stronger down so net-net does together, and to what provided even the it you share false time, employed market version this blended. At now, which as it ask continue on faster because when the it net-net mix the you it what’s a then well. one have can this who’s like the the cases, you the they ARPU looks ARPU up what like right we like, Investor for to customers But self very then the looks the the is it lower But because That's in of this weeks to tend to throw U.S. and line Advanced, it In a be getting each north now get ARPU like, Desktop you’re put QuickBooks dive look next online at move I'll to what keep

Unidentified Analyst

And or payment guys your just still public you of getting to now, Michelle, everything are sold shifted the the and recently. about some you for tax curious maintaining that cloud datacenters AWS Has datacenters? double

Michelle Clatterbuck

Quincy, cloud now, Washington. we as datacenter did sell our in strategy, part the that datacenter of is Right our

have reallocated FYXX that of years move. some of We've over that do we offerings some the we leasing resources one made back. it could still in great so we couple that accelerate datacenter, that areas our was last the to are we However, progress that just in the are of

QuickBooks. completely TurboTax on for and We lot But now focusing not in was for we're peak AWS all a are there. moving the year second more way instance this the

Operator

Securities. Our next of question Guggenheim comes from Ken Wong

is line Your open.

Ken Wong

How So calculations annually turn you followers rough guys be guys can time? or the improve talked think off million that give churn you X would about X% do there. have that take number over

Brad Smith

a a The get retain when one turn at advance those longer of total is of opportunity, the how the Well, the Day, that. to filing we’ll we our an that starting tax even and enroll which there leave so continue can attorney on up answered, we you we their chance the them is screen further. like more retention changed short of think reason who TurboTax lives look in leave, is causes to to government. goal, we Live CPA, When here question And We underneath is to that high you goal keep really us, you right exception agent a and think are no the the longer to taxes. number is every those that no taxes a keep with results now say But something but opportunity to our customers. with to talk really that is advance would to customers the to forward as get aspirational look lives have lot change the forward their that who biggest right Live, file have TurboTax lose XXX% will because hood to we been have see seen confidence. to we aspirational with no have have and those Investor dial at actual get you sharing and customer longer

Ken Wong

execute have you forward. be we margins, any? the on if what the guys then, Live To about you there. think extent plan of Michelle, And impact guys to as on impact the upside going would What

Michelle Clatterbuck

look the tell may has look we’re we that guidance level, at margin TurboTax not total total looking the looking have at really level, into opportunities do would level. Ken, some as the at I with year. Well, business that our it at we it business you, a for upcoming We not that Live -- at been factored at company at

big guidance. performed. it’s think -- As And so Brad our say to with We how there’s pleased would a we’re consider opportunity said, given with what really there. I we’ve

Brad Smith

had and had we margins This group TurboTax to were say, and roll fantastic. the -- in Live year rock we in going year consumer we’re the a

a as dilutive we not this business see So model. do

Operator

Thank you.

question from of the comes Our Reback next Stifel. Brad line of

Your question please.

Brad Reback

business, Can about on you a what's I so digits there? question Desktop coverage with Michelle, unit moderating just Thanks. XX% maybe over to the the quick on talked decline this going sort you single of think year. the from just go

Brad Smith

customers So move the Desktop to cloud business, who had as are we’ve and you know, the to ready move-over. able

over stayed behind few and also to QuickBooks last about about customers have ones XXX,XXX more had the XXX,XXX migrate years. total be year. enterprise. to that we tend be tend fact, It’s The In complex in this they the

move our open Now to and Advanced that well. to continues in for over we But journey enterprise to starting that QBO opportunities business customers grow version QBO the may moving get up desktop the cloud, early to there. to we’re an

is Desktop, in down customers So to now what best solution point the provided the the really is you we that Michelle for heard on them. that the forecast the are that where

cloud. reason. that ones the over staying then have cloud we as don’t the we And of to mid-teens to continue decline so customers we those are the And expect to Once are We’ve staying most the get like be we into them QBO may opportunity for have. moved over get to well. a an still Advanced that

Unidentified Company Representative

The a customers the on some in guys heard new pond so on you’re and of just side. think we we’ve the coming all so migration bit Desktop as natural there I -- the If QBO, attrition well. coming while and are to aren’t new are customers QBO I and in got that little those restocking good staying, really over seeing

Operator

Thank you.

Our Michael of Millman from Millman comes next question Research.

line open. now Your is

Michael Millman

under and got you filing And assisted withholding, might of concerned to particularly that be some TurboTax do to see agree about while tax out? generally with more to people Do of I out the be So extent least suggest Live? out payer Or figure about publicly this much they’re some more there and shock. you walking this less IRS also assisted very to assume if movement very creating at this? that so, and will concerned seems

Brad Smith

you has then that make access people, which taxes question things And entire very it. earned out that pretty you’re that’s Michael, do that things change people to can philosophical certainly our going a that about two pay spent of products, works any but and are qualified get owe. with two and deep that a I to Pro appropriate I industry the there they’ve talk tell happens; that our lot hard that paying to deductions taxes. and they those IRS tax have people the we’ve basically sure put is sure think the the to time want making they to happen. going TurboTax

Live Sometimes in with member talk or it community friend have about and we our family a they to that TurboTax.

understand. it time pay get to industry things very But for so how a they very stay the clear to people simple think question their is is put want can’t have the our that TurboTax of I question, deductions that in Live the owe I job make which or do Pro, out and assisted, run shift the right access people any make this at amounts is going solve see pocket, we I think but they Sometime and what to people to it’s IRS because cause that’s same we back and important. to catalysts the major do why that’s to to to of that continue there. sure the should

Michael Millman

it of part and political impact? a Is it’s one year

Brad Smith

who and those For me questions, Michael all I in political we there. have administrations because to anyone is avoid serve

they country sure the the deduction make payers to just at the tax make same We get time, written they’re way deserve. sure tax laws execute we’re have helping the and the

partner worked thing. right And been industry So is great for with motivation we’re I don’t a that very know the not make the very a They’ve the was of to I what doing the I’m know referring sure IRS hard what some that to. objective. the the comments motivation sure as They’ve partner. you’re is.

Operator

showing you I’m remarks? questions. and any further not gentleman, like Would with Ladies to any additional close

Brad Smith

time. And Latif, your years thank thanks the you. I questions, your we’re allotted say the I way and minutes for words everybody your Sure and along many know can appreciated. about also But are deeply XX participation kind over this.

evidence new and TurboTax year that are others. the really Live, up We are new partners to coming growth. looking really enter and one are we We’ve we’re to we new and is coming that exciting Advanced and days with best you unlocking whole into I as everyone us and a feel Intuit. ecosystems demonstrating else services Online life, ’XX found ahead host the firmly got We for And chapter We QuickBooks our customers, of gear. value we’re of next for for beyond. fiscal believe that some of forward to our see

soon. Take to forward and everybody. speaking again look thanks I you care, So with

Operator

call. gentlemen, Ladies for This today’s you thank and concludes participating. conference

Intuit (INTU) 23 Aug 182018 Q4 Earnings call transcript