MOUNTAIN VIEW, Calif. – Feb. 22, 2007 – Intuit Inc. (Nasdaq: INTU) today announced its second-quarter 2007 revenue increased 3 percent year-over-year to $763 million, in line with expectations. For the first six months of the fiscal year, the company reported revenue growth of 8 percent.

Growth in the quarter was driven by strong sales in Consumer Tax, which were up 18 percent over the year-ago period, and Payroll and Payments segment, which was up 15 percent year-over-year. This growth was offset partly by revenue shifts in QuickBooks and Pro Tax, which moved about $45 million in revenue from the second quarter to the first and third quarters, compared to last year.

“We are pleased with the early results of TurboTax and the continued strength in our Payroll and Payments segment,” said Steve Bennett, Intuit’s president and chief executive officer. “We are also excited by the recent acquisition of Digital Insight, which will provide a third platform for growth as we go forward.”

Second-Quarter 2007 Financial Highlights
Intuit posted GAAP (Generally Accepted Accounting Principles) diluted net income of $145 million in the quarter versus diluted net income of $183 million in the second quarter of 2006. This represents diluted net income of $0.40 per share versus diluted net income of $0.50 per share in the year-ago quarter. Second quarter 2006 results included $28 million, or 7 cents per share, from discontinued operations. Intuit posted non-GAAP diluted net income of $161 million, or $0.45 per share versus $174 million, or $0.48 per share in the second quarter of 2006.

Second-Quarter 2007 Business Segment Results

* QuickBooks second quarter revenue was $164 million. The earlier launch of QuickBooks 2007 versus QuickBooks 2006 shifted about $20 million of revenue from the second quarter to the first quarter. Year-to-date QuickBooks revenue was up 5 percent.
* Payroll and Payments revenue of $138 million was up 15 percent compared to the second quarter of 2006.
* Consumer Tax revenue was $226 million, up 18 percent year-over-year.
* Professional Tax revenue was $131 million, down 13 percent as a result of changes in product offerings, which deferred approximately $25 million to the t ird quarter.
* Other Businesses revenue of $105 million was up 1 percent.

Forward-looking Guidance
Forward-looking guidance has been adjusted to reflect the acquisition of Digital Insight, the disposition of certain fully outsourced payroll assets, and a lower effective tax rate. For fiscal 2007 Intuit now expects:

* Revenue of $2.625 billion to $2.675 billion, representing annual growth of 12 to 14 percent.
* GAAP operating income of $585 million to $611 million, and non-GAAP operating income of $725 million to $751 million.
* GAAP diluted earnings per share, or EPS, of $1.10 to $1.14, and non-GAAP diluted EPS of $1.33 to $1.37.

Intuit also adjusted its previously given third quarter, fourth quarter and full year fiscal 2007 guidance for revenue and earnings per share, details of which are available on Intuit’s Web site