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Microsoft Excel LibreOffice Calc

Intuit Inc. (NASDAQ:INTU)

Income Statement

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Intuit Inc., consolidated income statement

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Jul 31, 2019 Jul 31, 2018 Jul 31, 2017 Jul 31, 2016 Jul 31, 2015 Jul 31, 2014
Product
Service and other
Net revenue
Cost of product revenue
Cost of service and other revenue
Amortization of acquired technology
Cost of revenue
Gross profit
Selling and marketing
Research and development
General and administrative
Amortization of other acquired intangible assets
Goodwill and intangible asset impairment charges
Operating income from continuing operations
Interest expense
Interest and other income (expense), net
Income from continuing operations before income taxes
Income tax provision
Net income from continuing operations
Net income (loss) from discontinued operations
Net income

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

Income statement item Description The company
Net revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Intuit Inc.’s net revenue increased from 2017 to 2018 and from 2018 to 2019.
Operating income from continuing operations The net result for the period of deducting operating expenses from operating revenues. Intuit Inc.’s operating income from continuing operations increased from 2017 to 2018 and from 2018 to 2019.
Income from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Intuit Inc.’s income from continuing operations before income taxes increased from 2017 to 2018 and from 2018 to 2019.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Intuit Inc.’s net income increased from 2017 to 2018 and from 2018 to 2019.