Intuit Sees Good QBO Subscriber Growth; Tax Season Off to Slow Start; Shares Overvalued
Intuit’s second-quarter results were in line with our expectations after the company had previously noted a slower-than-expected start to the tax season. Through Feb. 18, TurboTax unit sales were down 5% versus the prior year, reflecting the latest IRS data that showed total e-filed returns down 13%. Positively, the IRS data helped support the continuing user trend toward do-it-yourself software, which Intuit is well-positioned to benefit from. Another positive was Intuit’s ongoing growth in its...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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