Intuit Reports in Line Quarter; QuickBooks Online Continues Positive Momentum; Shares Overvalued
Intuit’s second-quarter results were mostly in line with our expectations. After the company released a preliminary statement on Feb. 9, we were expecting a later start to the firm’s lucrative tax season. For the tax season to date, TurboTax Desktop returns fell 5% year over year to 3.65 million, while TurboTax Online returns grew 3% to 14.5 million, aligning with expectations. We are expecting Intuit’s third quarter to be a busy one with the company recording around $2.8 billion in the coming q...
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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