Intuit Nears Deal to Buy Credit Karma for $7 Billion: WSJ [Yahoo! Finance News]
Intuit Inc. (INTU)
Last intuit inc. earnings: 2/24 04:01 pm
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Source: Yahoo! Finance News
) -- Intuit Inc. is close to buying Credit Karma Inc. for about $7 billion in cash and stock deal, the Wall Street Journal reported, citing people familiar with the matter it didn’t identify. The purchase, which could be announced by Monday, will push the maker of TurboTax deeper into the consumer finance space, the newspaper said. The acquisition would also be Intuit’s largest in its 37-year history, it added. Broadening its sales base is important at a time when Morgan Stanley said it’s expecting tax-preparation software companies to face headwinds for the revenue they get from each tax return this year due to the combined effect of a rising mix of free filings and lower need for services that assist do-it-yourself filers. Still, Morgan Stanley analyst Keith Weiss had expected Intuit to hit the high end of its implied consumer tax guidance as TurboTax continues to gain market share. Intuit shares have risen 14% since the start of the year, compared with a 3.3% advance in the Index.
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INTU
News
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INTU
Earnings
- 11/21/24 - Beat
INTU
Sec Filings
- 12/20/24 - Form 4
- 12/18/24 - Form 144
- 12/16/24 - Form 4
- INTU's page on the SEC website