Intuit president and chief executive officer, Brad Smith, met with stockholders on Thursday at the company’s Annual Shareholder meeting. Smith offered reflections on Intuit’s FY12 performance (which ended July 31) candidly sharing that he and the board expected better results. Yet Smith shared the company added 10 million new customers, grew top and bottom line and during the fiscal year Intuit’s stock price increase 24 percent.
Smith outlined key market trends, highlighting Intuit’s focus on mobile and cloud-based initiatives and a new focus on a networked economy, relying on the value created by participants. This is already driving core customer and revenue growth, Intuit has tripled the number of customers using hosted solutions to 45 million.
Smith said the growth strategy moving forward includes driving growth in core businesses by delivering awesome product experience and better first use experience. He pointed to enabling the contributions of others to create network platforms and talked about ‘data for the little guy,’ Intuit’s approach to using data to help small businesses succeed.