Intuit's Wide Moat Is Underpinned by High Switching Costs and Positive Network Effects
Intuit had a good second quarter with the firm outperforming its quarterly guidance for revenue, operating income, and EPS. The result was bolstered by strong continued Total Online Ecosystem revenue growth and healthy ongoing momentum for the consumer business. The shift of users to the firm’s online products such as QuickBooks Online, or QBO, and strong position in the tax space’s secularly growing do-it-yourself software category is expected to propel healthy long-term growth for the business...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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