Intuit's global technology platform guides its customers and communities through the most significant financial challenges in their industries. It has over 100 million customers across the globe to whom it empowers to thrive. The company has just closed its Q4 and therefore full year 2021 accounts.
July 31, 2021 was the closing date for fiscal 2021 at INTUIT. Its business in the last quarter alone (Credit Karma included) generated $2.6 billion as revenue. This is up a significant 41% from the same period in 2020 ($1.8 billion).
The group's small businesses and self-employed workers generated a 19% increase in sales to $1.3 billion. Also noteworthy is the 30% increase in online ecosystem revenue this quarter. The consumer group alone posted quarterly revenues of $852 million, compared with $710 million a year ago. As for Credit Karma, its business delivered a record $405 million in Q4/2021.
INTUIT's Q4 2021 GAAP operating income was $402 million versus $483 million in Q4/2020.
Note: The quarterly business generated earnings per share of $1.37 versus $1.68 in the same period last year. Operating income was up 17% and EPS was up 18% compared to Q4/2021.
Credit Karma's business has been recognized in the INTUIT Group's annual balance sheet from December 3. As a result, the group's overall turnover stands at 9.6 billion dollars. This represents an increase of 25% compared to the previous year's turnover. Taking into account the performance of Credit Karma, Turbo Tax and QuickBooks online, INTUIT recorded a 39% increase in its combined revenues. Combined revenues reached $6.6 billion.
The combined small business and self-employed revenue grew by 16%. The online ecosystem reported annual revenue growth of 26%. The group maintained the same growth rate in the Costumer Group division, whose revenue rose 14% to $3.6 billion. Credit Karma achieved $865 million in revenue for the full twelve months of fiscal 2021.
At the end of fiscal year 2021, the INTUIT Group achieved a total of $2.5 billion as GAAP operating profit. This represents an increase of 15%. Non-GAAP operating income grew 31% year-over-year to $3.5 billion. This results in GAAP net income per share and non-GAAP EPS of 9% and 24% respectively for fiscal 2021.
For the first quarter of 2022, the group anticipates revenue growth ranging from 36% to 38% including the Credit Karma business. It expects GAAP EPS in the range of $0.14 to $0.19 in 1Q2022.
It further expects to achieve revenue in the range of $11.050 billion to $11.200 billion for fiscal 2022.