Intuit Reports Good 3Q; Strong QBO Subscriber Growth Supports Wide Moat; Shares Overvalued
Intuit reported good third-quarter results despite IRS returns being relatively flat year over year and anticipated share gains not eventuating in the do-it-yourself consumer tax category. Still, the seasonally significant quarter was bolstered by clients adopting higher value consumer tax product tiers, which led to tax revenue growth exceeding unit growth, and strong QuickBooks Online subscriber growth. Significantly, Intuit raised its full-year QuickBooks Online subscriber outlook to 2.3 mill...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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