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Intuit raises forecast on demand for DIY tax filing

21
Feb
2014

(Reuters) – Intuit Inc raised its third-quarter earnings forecast due to strong demand for its online tax-preparation software, TurboTax, in the U.S. tax-filing season. Intuit’s shares rose 3 percent in extended trading after the company’s second-quarter revenue fell less than expected despite a delayed start to the tax-filing season. The Mountain View, California-based company said sales of its of its flagship TurboTax application grew 7 percent to 14 million units in the season through February 15, led by a 11 percent growth of TurboTax Online. “The DIY (do-it-yourself) category is off to a strong start in the early part of the season,” said Sasan Goodarzi, senior vice president and general manager of Intuit’s consumer tax group.

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