FINANCIAL SUMMARY | GUIDANCE[C] | |||||||||||||||
($ millions, except per share data) | Q1 FY19 | Q2 FY19 | Q3 FY19 | Q4 FY19 | FY19 | Q1 FY20 | Q2 FY20 | Q3 FY20 | Q4 FY20 | FY20 | Q1 FY21 | Q2 FY21 | FY21 | |||
Small Business & Self-Employed | $908 | $833 | $887 | $905 | $3,533 | $1,046 | $973 | $982 | $1,049 | $4,050 | $1,181 | $4,360 | -$4,460 | |||
% change YOY | 11% | 17% | 19% | 16% | 15% | 15% | 17% | 11% | 16% | 15% | 13% | 8% -10% | ||||
Consumer | $90 | $461 | $2,150 | $74 | $2,775 | $100 | $499 | $1,827 | $710 | $3,136 | $119 | $3,410 | -$3,455 | |||
% change YOY | 22% | 11% | 10% | 7% | 11% | 11% | 8% | (15%) | 859% | 13% | 19% | 9% -10% | ||||
ProConnect | $18 | $208 | $235 | $15 | $476 | $19 | $224 | $193 | $57 | $493 | $23 | $495 | -$500 | |||
% change YOY | 6% | (1%) | 9% | 15% | 4% | 6% | 8% | (18%) | 280% | 4% | 21% | 0% -1% | ||||
Credit Karma | $545 | -$580 | ||||||||||||||
% change YOY | ||||||||||||||||
Total Revenue | $1,016 | $1,502 | $3,272 | $994 | $6,784 | $1,165 | $1,696 | $3,002 | $1,816 | $7,679 | $1,323 | $1,935 -$1,965 | $8,810 | -$8,995 | ||
% change YOY | 12% | 12% | 12% | 15% | 13% | 15% | 13% | (8%) | 83% | 13% | 14% | 14% -16% | 15% -17% | |||
GAAP Operating Income (Loss) | ($10) | $233 | $1,784 | ($153) | $1,854 | $10 | $270 | $1,413 | $483 | $2,176 | $209 | $171 -$191 | $1,920 | -$1,990 | ||
Non-GAAP Operating Income (Loss)[A] | $102 | $339 | $1,888 | ($47) | $2,282 | $129 | $384 | $1,539 | $616 | $2,668 | $334 | $455 -$475 | $2,975 | -$3,045 | ||
Non-GAAP Operating Margin %[A] | 10.0% | 22.6% | 57.7% | NA | 33.6% | 11.1% | 22.6% | 51.3% | 33.9% | 34.7% | 25.3% | |||||
Interest Expense | ($4) | ($4) | ($4) | ($3) | ($15) | ($2) | ($3) | ($2) | ($7) | ($14) | ($8) | |||||
Interest and Other Income | $0 | $6 | $17 | $19 | $42 | $14 | $15 | ($3) | $10 | $36 | $9 | |||||
GAAP Share Based Compensation Expense | 105 | 100 | 98 | 98 | 401 | 111 | 107 | 103 | 114 | 436 | 111 | |||||
GAAP Share Based Compensation Expense per Share | NM | ($0.30) | ($0.29) | ($0.12) | ($1.26) | ($1.11) | ($0.35) | ($0.30) | ($0.40) | ($1.37) | ($0.39) | |||||
GAAP Diluted EPS | $0.13 | $0.72 | $5.22 | ($0.17) | $5.89 | $0.22 | $0.91 | $4.11 | $1.68 | $6.92 | $0.75 | $0.43 -$0.49 | $5.30 | -$5.50 | ||
Non-GAAP Diluted EPS[A] [B] | $0.29 | $1.00 | $5.55 | ($0.09) | $6.75 | $0.41 | $1.16 | $4.49 | $1.81 | $7.86 | $0.94 | $1.25 -$1.31 | $8.20 | -$8.40 | ||
GAAP Diluted EPS (YTD) | $0.13 | $0.84 | $6.06 | $5.89 | $5.89 | $0.22 | $1.13 | $5.24 | $6.92 | $6.92 | $0.75 | |||||
Non-GAAP Diluted EPS (YTD)[A] [B] | $0.29 | $1.29 | $6.84 | $6.75 | $6.75 | $0.41 | $1.57 | $6.06 | $7.86 | $7.86 | $0.94 | |||||
Basic Share Count | 260 | 260 | 260 | 260 | 260 | 261 | 261 | 261 | 262 | 261 | 263 | ~270 | ||||
Diluted Share Count | 264 | 264 | 264 | 260 | 264 | 264 | 264 | 264 | 264 | 264 | 265 | ~273 | ||||
GAAP Tax Rate | 337% | 20% | 23% | 68% | 17% | -163% | 15% | 23% | 8% | 17% | 6% | 24% | ||||
Non-GAAP Tax Rate | 23% | 23% | 23% | 23% | 23% | 23% | 23% | 23% | 23% | 23% | 24% | 24% | ||||
Capital Expenditures | $155 | $137 | ~$170 | |||||||||||||
Segment Revenue | FY'19 | FY'20 | FY'21 | ||||||||||||||||||||
($ millions) | Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | Q4 | FY | Q1 | ||||||||||||
QuickBooks Online Accounting | $ | 217 | $ | 231 | $ | 260 | $ | 272 | $ | 980 | $ | 306 | $ | 330 | $ | 353 | $ | 365 | $ | 1,354 | $ | 392 | |
Online Services | $ | 154 | $ | 163 | $ | 179 | $ | 187 | $ | 683 | $ | 195 | $ | 200 | $ | 207 | $ | 226 | $ | 828 | $ | 229 | |
Total Online Ecosystem | $ | 371 | $ | 394 | $ | 439 | $ | 459 | $ | 1,663 | $ | 501 | $ | 530 | $ | 560 | $ | 591 | $ | 2,182 | $ | 621 | |
QuickBooks Desktop Accounting (Outright, Subs and ES) | $ | 228 | $ | 154 | $ | 181 | $ | 169 | $ | 732 | $ | 239 | $ | 165 | $ | 173 | $ | 178 | $ | 755 | $ | 241 | |
Desktop Services and Supplies | $ | 309 | $ | 285 | $ | 267 | $ | 277 | $ | 1,138 | $ | 306 | $ | 278 | $ | 249 | $ | 280 | $ | 1,113 | $ | 319 | |
Total Desktop Ecosystem | $ | 537 | $ | 439 | $ | 448 | $ | 446 | $ | 1,870 | $ | 545 | $ | 443 | $ | 422 | $ | 458 | $ | 1,868 | $ | 560 | |
Small Business & Self-Employed | $ | 908 | $ | 833 | $ | 887 | $ | 905 | $ | 3,533 | $ | 1,046 | $ | 973 | $ | 982 | $ | 1,049 | $ | 4,050 | $ | 1,181 | |
Consumer | $ | 90 | $ | 461 | $ | 2,150 | $ | 74 | $ | 2,775 | $ | 100 | $ | 499 | $ | 1,827 | $ | 710 | $ | 3,136 | $ | 119 | |
ProConnect | $ | 18 | $ | 208 | $ | 235 | $ | 15 | $ | 476 | $ | 19 | $ | 224 | $ | 193 | $ | 57 | $ | 493 | $ | 23 | |
Total Segment Revenue | $ | 1,016 | $ | 1,502 | $ | 3,272 | $ | 994 | $ | 6,784 | $ | 1,165 | $ | 1,696 | $ | 3,002 | $ | 1,816 | $ | 7,679 | $ | 1,323 | |
Platform Revenue | FY'19 | FY'20 | |||||
($ millions) | |||||||
Online Ecosystem (QBO) | $ | 1,663 | $ | 2,182 | |||
TurboTax Online (TTO) | $ | 2,250 | $ | 2,610 | |||
QBO and TTO Platform Revenue | $ | 3,913 | $ | 4,792 |
Segment Operating Income
FY'21 | ||||||||||||||||
($ millions) | Q1 | |||||||||||||||
% Op. | ||||||||||||||||
Op. Inc. | Margin | |||||||||||||||
Small Business & Self-Employed | $ | 767 | 65% | |||||||||||||
Consumer | $ | 4 | 4% | |||||||||||||
ProConnect | $ | (10) | -42% | |||||||||||||
Total Segment Operating Income | $ | 761 | 58% | |||||||||||||
FY'20 (Restated) [D] | ||||||||||||||||
($ millions) | Q1 | Q2 | Q3 | Q4 | Year | |||||||||||
% Op. | % Op. | % Op. | % Op. | % Op. | ||||||||||||
Op. Inc. | Margin | Op. Inc. | Margin | Op. Inc. | Margin | Op. Inc. | Margin | Op. Inc. | Margin | |||||||
Small Business & Self-Employed | $ | 593 | 57% | $ | 447 | 46% | $ | 456 | 46% | $ | 595 | 57% | $ | 2,091 | 52% | |
Consumer | $ | (20) | -20% | $ | 191 | 38% | $ | 1,350 | 74% | $ | 542 | 76% | $ | 2,063 | 66% | |
ProConnect | $ | (18) | -95% | $ | 186 | 83% | $ | 155 | 80% | $ | 23 | 40% | $ | 347 | 70% | |
Total Segment Operating Income | $ | 555 | 48% | $ | 824 | 49% | $ | 1,962 | 65% | $ | 1,160 | 64% | $ | 4,500 | 59% | |
FY'19 (Restated) [D] | ||||||||||||||||
($ millions) | Year | |||||||||||||||
% Op. | ||||||||||||||||
Op. Inc. | Margin | |||||||||||||||
Small Business & Self-Employed | $ | 1,721 | 49% | |||||||||||||
Consumer | $ | 1,820 | 66% | |||||||||||||
ProConnect | $ | 330 | 69% | |||||||||||||
Total Segment Operating Income | $ | 3,872 | 57% |
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Intuit Inc. published this content on 07 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 December 2020 15:16:00 UTC