There are some interesting trends taking place in the consumer space. This year, tax season has been rather good to Intuit, despite a few hiccups in last-minute online filings. Intuit just released their quarterly earnings, and they had their first $1 billion quarter-- $1.15 billion to be exact. GAAP net income came in at $367 million, which is not too shabby. (Details)
Apart from the nice revenue, there are some interesting trends in Intuit's Turbo Tax unit sales for this tax year:
- Intuit sold 6,942,000 copies of its shrink-wrapped Turbo Tax software that you install on your desktop. This was a 2% drop from last year's sales of shrink-wrapped Turbo Tax.
- Unit sales of Turbo Tax for the web increased by 16% to 6,042,000.
- Another 1,422,000 users filed for free with Turbo Tax for the web, a 3% increase over last year's numbers.
- Altogether, more people (51.8%) filed with the hosted (web-based) version of Turbo Tax rather than the version installed on your desktop.