Intuit Inc. (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

	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.

	Intuit Inc.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Analysis of Financial Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis of Components of Financial Statements
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Analysis of Financial Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis of Components of Financial Statements
Financial Reporting Quality