To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Intuit Inc. (Nasdaq: INTU), maker of TurboTax, QuickBooks and Mint, announced financial results for the third quarter of fiscal 2020, which ended April 30. Amortization of other acquired intangible assets Reflects estimated adjustments for share-based compensation expense of approximately $423 million; amortization of acquired technology of approximately $21 million; and amortization of other acquired intangible assets of approximately $6 million. You can locate these reports through our website at Total changes in operating assets and liabilities The company expects: QuickBooks Self-Employed provides freelancers and independent contractors with an easy and affordable way to manage their finances and save money at tax time, while Mint delivers financial tools and insights to help people make smart choices about their money. Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period
If you experience any issues with this process, please contact us for further assistance.Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks of Intuit Inc. We compute our provision for or benefit from income taxes by applying the estimated annual effective tax rate to income or loss from recurring operations and adding the effects of any discrete income tax items specific to the period.
Net (gain) loss on debt securities and other investments These factors include, without limitation, the following: our ability to compete successfully; our participation in the Free File Alliance; potential governmental encroachment in our tax businesses; our ability to adapt to technological change; our ability to predict consumer behavior; our reliance on third-party intellectual property; our ability to protect our intellectual property rights; any harm to our reputation; risks associated with acquisition and divestiture activity; the issuance of equity or incurrence of debt to fund an acquisition; our cybersecurity incidents (including those affecting the third parties we rely on); customer concerns about privacy and cybersecurity incidents; fraudulent activities by third parties using our offerings; our failure to process transactions effectively; interruption or failure of our information technology; our ability to maintain critical third-party business relationships; our ability to attract and retain talent; any deficiency in the quality or accuracy of our products (including the advice given by experts on our platform); any delays in product launches; difficulties in processing or filing customer tax submissions; risks associated with international operations; changes to public policy, laws or regulations affecting our businesses; litigation in which we are involved; the seasonal nature of our tax business; changes in tax rates and tax reform legislation; global economic changes; exposure to credit risk of the businesses we provide capital to; amortization of acquired intangible assets and impairment charges; our ability to repay outstanding debt; our ability to repurchase shares or distribute dividends; volatility of our stock price; and our ability to successfully market our offerings.
To hear the call, dial 844-246-4601 in the United States or 703-639-1172 from international locations. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. In Notice 2020-18 (PDF) , the Treasury Department and the Internal Revenue Service (IRS) announced special Federal income tax return filing and payment relief in response to the ongoing Coronavirus Disease 2019 (COVID-19) emergency.
The following table summarizes the total share-based compensation expense that we recorded in operating income for the periods shown. Adjustments to reconcile net income to net cash provided by operating activities: Non-GAAP operating income … Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from the expectations expressed in the forward-looking statements. Intuit announced guidance for the third quarter of fiscal year 2020, which ends April 30. Terms and conditions, features, support, pricing, and service options subject to change without notice.Intuit Second Quarter Revenue Increased 13 Percent; Small Business Online Ecosystem Revenue Grew 35 Percent Intuit’s mission is to Power Prosperity Around the World. Principal repayments of term loans from small businesses 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. No reservation or access code is needed. The difference from the federal statutory rate of 21% was primarily due to state income taxes and non-deductible share-based compensation, which were partially offset by the tax benefit we received from the federal research and experimentation credit. Please check your download folder. Start for free today and join the millions who file with TurboTax. More details about these and other risks that may impact our business are included in our Form 10-K for fiscal 2019 and in our other SEC filings. These non-GAAP financial measures include non-GAAP operating income (loss), non-GAAP net income (loss) and non-GAAP net income (loss) per share. The accompanying press release dated February 24, 2020 contains non-GAAP financial measures. Easily file federal and state income tax returns with 100% accuracy to get your maximum tax refund guaranteed. Reflects the estimated adjustments in item [a], income taxes related to these adjustments, and other income tax effects related to the use of the non-GAAP tax rate. We compute non-GAAP financial measures using the same consistent method from quarter to quarter and year to year.
The audio webcast will remain available on Intuit’s website for one week after the conference call. Amortization of other acquired intangible assets The access code for this call is 5593966. The company expects: Revenue of $7.440 billion to $7.540 billion, growth of 10 to 11 percent. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Table B1, Table B2 and Table E reconcile the non-GAAP financial measures in that press release to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). Purchases of corporate and customer fund investments Excluding discrete tax items primarily related to share-based compensation tax benefits mentioned above, our effective tax rate for both periods was 23%. The following are descriptions of the items we exclude from our non-GAAP financial measures.
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