Intuit Provides Final Consumer Tax Season Update, Reiterates Full-Year Outlook; Shares Overvalued
Intuit provided a brief market update in which it released its second and final update for the 2017 consumer tax season. Through April 22, total TurboTax units grew 2% year over year to 34,614,000. Intuit noted that IRS returns were relatively flat year over year and that its share in the do-it-yourself category was slightly down. These trends do run counter to Intuit’s long-term growth aspirations in the consumer tax segment (~1% long-term annual growth in IRS returns and ~1.5% growth in TurboT...Intuit helps consumers, small businesses, and the self-employed prosper by delivering financial management and compliance products and services. The company also provides tax products to accounting personnels, who are main partners that help the company serves small business customers. The company organizes its businesses into three reportable segments: Small Business and Self-Employed, which provides QuickBooks financial management solutions to solve financial and compliance problems; Consumer, which includes TurboTax products and services to prepare and file income tax returns; and Strategic Partner, which includes professional tax offerings and serve professional accountants in United States and Canada.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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