Recurring revenue offers a foundation, especially if the software is essential for many customers. Corporations that operate under this model can raise their revenue and earnings by increasing prices, getting new customers, and having existing customer upgrade their accounts. Intuit (NASDAQ:INTU) has been thriving under this model for decades.
The fintech company has several software products under its corporate umbrella, such as TurboTax, QuickBooks, Mailchimp, and CreditKarma. The company’s recurring business model, top-quality software products, and continued financial strength make me bullish on this stock.
Revenue Growth Remains Strong
Intuit has delivered several quarters of double-digit revenue growth. The company continued the trend in the second quarter of Fiscal 2024, as Intuit increased its revenue by 11% year-over-year in that quarter.
The company’s Small Business and Self-Employed Group segment…
