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QBE REVS GREW “HIGH-TEENS” Featured

Intuit’s QuickBooks Desktop Enterprise software keeps chugging along with health growth.

The mid-market product saw revenue growth in the “high teens” percentage wise for the third quarter ended April 30. Total desktop revenue was $337 million for the most recently ended period, a 20.3-percent increase from $280 million a year ago CFO Sanjeep Aula repeated a  statement from the second quarter that QBE represents half of the desktop revenue. That means QBE revenue should have topped $168.6 million for the quarter, but the company gave no hint of how much over. Intuit expects QBE growth will slow to the high, single-digit range for the current quarter. Aujla noted that at the end of fiscal 2024 Intuit will complet a three-year transition for customers that remain on our license-based desktop offering to a recurring subscription model. The company will encourage Desktop Pro subscription customers to migrate to QBE or QuickBooks Online.

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