Intuit Inc. (NASDAQ:INTU) Q2 2024 Earnings Conference Call February 22, 2024 4:30 PM ET

Company Participants

Kim Watkins – Vice President-Investor Relations

Sasan Goodarzi – Chief Executive Officer

Sandeep Aujla – Chief Financial Officer

Conference Call Participants

Siti Panigrahi – Mizuho

Kash Rangan – Goldman Sachs

Brad Zelnick – Deutsche Bank

Michael Turrin – Wells Fargo

Taylor McGinnis – UBS

Alex Zukin – Wolfe Research

Kirk Materne – Evercore ISI

Brent Thill – Jefferies

James Friedman – Susquehanna

Raimo Lenschow – Barclays

Mark Murphy – JPMorgan

Steve Enders – Citi

Scott Schneeberger – Oppenheimer

Keith Weiss – Morgan Stanley

Operator

Good afternoon, my name is Angela, and I will be your conference operator. At this time I would like to welcome everyone to Intuit’s Second Quarter Fiscal Year 2024 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer period. [Operator Instructions]

With that, I’ll now turn the call over to Kim Watkins, Intuit’s Vice President of Investor Relations. Ms. Watkins?

Kim Watkins

Thanks, Angela. Good afternoon and welcome to Intuit’s second quarter fiscal 2024 conference call. I’m here with Intuit’s CEO, Sasan Goodarzi; and our CFO, Sandeep Aujla. Before we start, I’d like to remind everyone that our remarks will include forward-looking statements. There are a number of factors that could cause Intuit’s results to differ materially from our expectations. You can learn more about these risks in the press release we issued earlier this afternoon, our Form 10-K for fiscal 2023 and our other SEC filings. All of those documents are available on the Investor Relations page of Intuit’s website at intuit.com. We assume no obligation to update any forward-looking statements.

Some of the numbers in these remarks are presented on a non-GAAP basis. We’ve reconciled the comparable GAAP and non-GAAP numbers in today’s press release. Unless otherwise noted, all growth rates refer to the current period versus the comparable prior-year period, and the business metrics and associated growth rates refer to worldwide business metrics. A copy of our prepared remarks and supplemental financial information will be available on our website after this call ends.

And with that, I’ll turn the call over to Sasan.

Sasan Goodarzi

Thanks Kim, and thanks to all of you for joining us today. We had another strong quarter and have great momentum innovating on our platform. We’re executing on our strategy to be the global AI-driven expert platform powering prosperity for consumers and small businesses. Second quarter revenue grew by 11%, and we are on track to achieve our fiscal year 2024 full year guidance of 11% to 12% revenue growth while expanding operating margins. Let’s start with tax. We are confident in our innovation and game plan to win, and are reiterating our full fiscal year guidance of 7% to 8% revenue growth for the Consumer Group.