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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Intuit Inc.    INTU

INTUIT INC.

(INTU)
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Intuit : TurboTax Brings Latino Self-employed and Small Businesses Into the Spotlight to Celebrate Hispanic Heritage Month

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09/15/2020 | 08:09am EDT

TurboTax announces partnership with the Hispanic Chamber of e-commerce and launches #Unidos4LatinoBiz campaign to support Latino owned business owners

In honor of Hispanic Heritage month, TurboTax®, the nation’s leading online tax preparation service from Intuit Inc. (Nasdaq: INTU) announced today two initiatives designed to financially empower Latino self-employed and small businesses during COVID-19, a partnership with Hispanic Chamber of E-commerce (HISCEC) and the launch of #Unidos4LatinoBiz, a give back social campaign.

According to the 2019 State of Latino Entrepreneurship Initiative (SLEI), Latino-owned businesses employ more than 3 million people and have grown 34% over the past decade, compared to a 1% growth for businesses in the U.S. overall. This represents an important segment for the economy and Intuit is committed to supporting their growth and celebrating their ability to adapt during this crisis.

“The challenges brought on this year as a result of COVID-19 have not left any community untouched. We understand the Hispanic small owned business and self-employed community have been disproportionately impacted by this pandemic and Intuit is here to help,” said Alejandra Molinari, Lead of TurboTax Latino and Self-Employed Communications.

Intuit is excited to partner with the HISCEC organization and provide its active members with the tools and education to be more successful and compete more effectively in the marketplace. The partnership includes:

  • Virtual learnings conducted by Intuit credentialed tax and bookkeeping experts to provide them with key information to apply to their businesses
  • Educational custom content to navigate COVID-19 implications
  • Free TurboTax Live Self-Employed product so they can file their tax year 2020 self-employment taxes for free with the help of credentialed tax experts
  • To help get small businesses up and running during this time of need, we are providing 40% discount of QuickBooks online for 12 months for new users

“As a Hispanic business association, we continuously seek ways to bring value and empower our members to grow their businesses. Intuit’s partnership will be instrumental for our community to find success through virtual educational training, access to virtual experts, online tools and products,” said Tayde Aburto, CEO and Founder of Hispanic Chamber of e-commerce. “We are honored to have partners like Intuit and TurboTax that recognize the hard work, determination and corazón of our community.”

Beginning September 21st, TurboTax encourages the public from all communities to join the #Unidos4LatinoBiz campaign to nominate their favorite local Latino owned, self-employed businesses for making a difference in their community using their Twitter and Instagram social media channels. Once a week for four weeks TurboTax will be giving away $5,000 to a lucky business owner to support their ongoing business efforts and $500 to the person that made the nomination. A total of $20,000 will be going to Latino owned businesses nominated by their own customers. Entries must be received through October 18th.

“We are committed to helping the Latino community, especially those small businesses that have made an impact in their communities during these challenging times. We could not think of a better platform to do so than Hispanic Heritage Month,” said Alejandra Molinari, Lead of TurboTax Latino and Self-Employed Communications. “We are looking forward to using our Intuit channels and tools to do our part in setting up Latino businesses and self-employed for future success.”

To learn more about companies who represent the values of Latino heritage, visit the TurboTax blog or follow the conversation on social media through the hashtag #Unidos4LatinoBiz.

About Intuit

Intuit’s mission is to Power Prosperity Around the World. We are a global financial platform company with products including TurboTax, QuickBooks, Mint and Turbo, designed to empower consumers, self-employed and small businesses to improve their financial lives. Our platform and products help customers get more money with the least amount of work, while giving them complete confidence in their actions and decisions. Our innovative ecosystem of financial management solutions serves approximately 50 million customers worldwide. Please visit us for the latest news and in-depth information about Intuit and its brands and find us on social.

© Business Wire 2020

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Financials (USD)
Sales 2021 8 244 M - -
Net income 2021 1 944 M - -
Net cash 2021 5 050 M - -
P/E ratio 2021 45,1x
Yield 2021 0,71%
Capitalization 87 127 M 87 127 M -
EV / Sales 2021 9,96x
EV / Sales 2022 8,77x
Nbr of Employees 10 600
Free-Float 96,6%
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Number of Analysts 21
Average target price 360,63 $
Last Close Price 332,79 $
Spread / Highest target 21,7%
Spread / Average Target 8,37%
Spread / Lowest Target -22,5%
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Managers
NameTitle
Sasan K. Goodarzi President, Chief Executive Officer & Director
Brad D. Smith Executive Chairman
Michelle M. Clatterbuck Chief Financial Officer & Executive Vice President
Atticus Tysen Chief Information Officer & Senior Vice President
Marianna Tessel Chief Technology Officer & Executive VP
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