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QBO Adds 1M Subs in FY 2019

Tuesday, Aug 27 2019
News
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Intuit said recently it added more than 1 million subscribers of its QuickBooks Online software for the year ended July 31. The tax and accounting software issued the numbers as it reported a 17.2-percent rise in net income on an 11.9-percent increase in revenue over fiscal 2018.

Intuit reported having 4,536,000 QBO subscribers on July 31, up 32.9 percent from the 3,412,000 for fiscal 2018. International subscription-growth outstripped the domestic page, increasing by 58 percent. 

In a recent earnings webcast, CEO Sasan Goodarzi said the web-based entry in the space, QBO Advanced, was doing well but that it is “still early days” and provided no detail. 

Both desktop units and desktop subscriptions of QuickBooks showed increase. There were 763,000 desktop units sold in the recently completed year, a 1.8-percent increase from 749,000. Desktop subscriptions rose by 7.2 percent to 413,000 from 385,000.

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