Intuit (INTU) Revenue — Quarter Ended Jul 31, 2023
Revenue for the quarter declined from the immediately preceding period but rose compared to the same quarter one year earlier. The sequential decline contrasts with the year-over-year growth.
Key takeaway
Quarter ended Jul 31, 2023 · FY2023 Q4
Revenue for the quarter declined from the immediately preceding period but rose compared to the same quarter one year earlier. The sequential decline contrasts with the year-over-year growth.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.7B
Revenue reported for this quarter.
Quarter-over-quarter
-54.9%
Change from the immediately preceding quarter.
Year-over-year
+12.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$14.4B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Oct 31, 2022 | $2.6B | +29.4% |
| Jan 31, 2023 | $3B | +13.8% |
| Apr 30, 2023 | $6B | +6.9% |
| Jul 31, 2023 | $2.7B | +12.3% |
Revenue performance
The reported revenue decreased significantly from the prior quarter, reflecting a sharp sequential drop. However, on a year-over-year basis, revenue increased.
Quarterly comparison
Compared to the immediately preceding quarter, revenue was substantially lower. In contrast, revenue was higher than in the same quarter one year earlier.
What to watch
The large sequential decline from the prior quarter's elevated level merits attention in future filings.