• by Ray Schultz , August 24, 2022

Intuit grew its annual revenue to $12.7 billion during its fiscal 2022, which ended on July 31 -- a 32% increase over the prior year. Marketing vendor Mailchimp, which was acquired in November 2021, contributed 8% to that growth. 

Small Business and Self-Employed Group revenue grew by 38% percent, and Online Ecosystem by 61%. However,  excluding Mailchimp revenue of $762 million, the Small Business Group would have grown by 22% and Online Ecosystem would have had growth of 34%. 

Combined Platform revenue, which includes Small Business and Self-Employed Group Online, TurboTax Online and Credit Karma, increased by 45% to $9.6 billion. Mailchimp contributed 11%. 

Operating income increased by 3% YoY to $2.71 million.  

For the fourth quarter, Intuit saw a decline in revenue of 6% to $2.4 billion, but Mailchimp almost helped pull it out. The decline, which reflected an earlier IRS tax filing this year, would have been 16% without Mailchimp’s $265 million in revenue.

The company grew Credit Karma revenue by 17% to $475 million. 

"We had a very strong fourth quarter, ending the year with momentum. We're more confident than ever in our long-term business strategy as we power prosperity around the world," said Sasan Goodarzi, Intuit's chief executive officer. 

The company also includes the QuickBooks and Mint brands.