By Denny Jacob


Intuit Inc. reported better-than-expected top- and bottom-line results in the third quarter as the addition of Mailchimp and growth in QuickBooks boosted revenue.

The tax preparation software maker logged net income of $1.79 billion, or $6.28 a share, for the quarter ended April 30, compared with net income of $1.46 billion, or $5.30 a share, in the year-ago period. Adjusted earnings a share were $7.65, above analysts' expectations of $7.54.

Revenue rose to $5.63 billion from $4.17 billion. Analysts polled by FactSet expected $5.51 billion.

Revenue from its consumer group grew 32% to $3.2 billion due to the earlier tax filing deadline this year, the company said. Intuit said revenue from online services in its small business and self-employed group grew 121% to $614 million, helped by the addition of Mailchimp and growth in QuickBooks, the company said.

Intuit said Greg Johnson, general manager of the Consumer Group, will step down on May 31 to become chief executive officer of McAfee Corp. Varun Krishna, senior vice president and general manager of growth products for Consumer Group, will succeed Mr. Johnson.


Write to Denny Jacob at denny.jacob@wsj.com


(END) Dow Jones Newswires

05-24-22 1637ET