Intuit reports strong Q1, small business demand and eyes midmarket firms

▤ Summary

Intuit reported strong first quarter results as the company is expanding its ecosystem of small businesses and associated services. Wall Street was expecting Intuit to report first quarter non-GAAP earnings of 25 cents a share on revenue of $1.12 billion. Intuit recently added a bevy of artificial intelligence features to its platform and is also moving upstream to midmarket companies. The QuickBooks Online Advanced features included workflow management, revenue streams dashboards, batch invoices and expenses, custom fields and a bevy of third party integrations. On a conference call with analysts, CEO Sasan Goodarzi said Intuits big bets revolve around AI and connecting frictionless business interactions.

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