This morning (Aussie time), Wednesday May 25, Intuit released their Q3 update to the NASDAQ. Acknowledging its a quarterly update, rather than full year results, it doesn’t say much, but there is some interesting commentary particularly in the conference call, rather than the Fact Sheet, that clearly lays out Intuit’s strategy for QBo into the future.
Just a note upfront: Intuit is a much bigger company than QuickBooks Online (QBo currently accounted for only 3% of revenue in the quarter OR $78m of the total quarterly revenue of $2,304m), but when looking at industry trends and for a comparison with Xero, this is my focus.
Building a global business $30 at a time
I jumped off a plane last Thursday morning after an overnight flight back from Asia, turned on my phone and had throughout the day a flood of SMS; Emails; LinkedIn Inmails; Facebook Messenger messages; Tweets and voicemail messages all asking my opinion on Xero’s full year results.
At first it was – how awesome, some people want to know what I think – they’ve actually been reading my blog. 🙂
Then, wow, how awesome is the Xero brand?! People have so bought into the company and what they are doing that they care about stock market announcements – something most don’t concern themselves with in their day-to-day lives.