Q: What is Intuit (INTU) Q4 2024 Earnings Call Transcript Summary?
**Earnings Call Summary: Intuit (INTU) Q4 2024**
**Bullish Points:**
1. Delivered strong results for Q4 and the full year, with meaningful progress in AI-driven strategies.
2. Full-year revenue grew 13%, with strong operating margin expansion.
3. Confident in delivering double-digit revenue growth and margin expansion in fiscal year 2025.
4. TurboTax Live revenue grew 17%, with full-service customers doubling and those needing TurboTax tripling.
5. QuickBooks Live customers more than tripled.
6. Total online payment volume grew 20%.
7. Helped small businesses access $2.4 billion in financing through QuickBooks Capital, up 28%.
8. QBO Advanced customers grew 28%.
9. Revenue in the Small Business and Self-Employed Group grew 20% during the quarter and 19% for the full year.
10. Finished the quarter with $4.1 billion in cash and investments, and repurchased $255 million of stock during Q4 and $2 billion during fiscal 2024.
**Bearish Points:**
1. GAAP operating loss of $151 million versus GAAP operating income of $17 million last year, reflecting a restructuring charge of $223 million.
2. GAAP diluted loss per share of $0.07 versus diluted earnings per share of $0.32 a year ago.
3. QBO U.S. Self-employed customers declined 14%.
4. Expect Q1 Desktop Ecosystem revenue to decline approximately 20%.
5. Finished the quarter with $6 billion in debt on the balance sheet.
6. Expected $24 million restructuring charge related to the reorganization announced in July.
7. Consumer Group and ProTax revenue expected to decline in Q1 due to lapping the period a year ago that included the extended California tax filing deadline.
8. The restructuring involved an 8% reduction in talent, which could have short-term operational disruptions.
9. Two quarters of deceleration in QuickBooks online subscriptions and online services.
10. Cash reserves for small businesses are still down 6% to 7% compared to last year.
For more information about Intuit's earnings call, you can read the relevant news: Intuit (INTU) Q4 2024 Earnings Call Transcript
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