Of course they had a great quarter. Look, most stocks are not worth the paper they are printed on and I would be the last person to recommend purchasing stocks because the stock market is a ponzi scheme---musical chairs.
HOWEVER, if you are into multi-level marketing, ponzi schemes, or musical chairs, I can highly recommend Intuit as a stock to buy. Why? Of all of the criminal enterprises I have studied over the years, there are very few that beat this company in terms of the monopolistic control they have over their customers. If you are a small busines user of their Quickbooks, they force you to pay $300 per year for the payroll data---even if you only have 1 employee. To add insult to injury, they FORCE you to upgrade to each new version in order to have the payroll; effectively extorting $600 per small business customer per user per year----not a bad business model if you are unethical and willing to ream your customers.
Bottom line: no need to attack me---I am saying if you believe in the ponzi scheme stock market, Intuit is a long term buy and hold. No, you will probably never get any of the profits---those are reserved for the executives, but in a ponzi scheme, all you need is to get other fools to buy the worthless paper from you sometime down the road, and with Intuit effectively forcing business to upgrade every year for another bug ridden release, I really do not see how you can go wrong with this stock. Not even major, innovative companies like Microsoft have this type of success forcing their customers to upgrade on their terms Most Microsoft software users are using XP (from 2001), Office 2000/2003 (from 2000-2003), SQL Server 2000 (from 2000), and other servers like Exchange, Windows, Terminal Services, etc (all from 2000 or 2003) even though in most cases several new versions are available that Micro$oft would love to sell you. Why doesn't Microsoft follow Intuits business model and FORCE customers to upgrade? Because Microsoft realizes that customers cannot just thow away products that work every year to try new products likely to have bugs, plus, the justice department would call that a monopoly. Investors in Intuit get the best of both worlds without having to worry about antitrust (not sure why, but who cares if you are long, just buy the stock and watch it go up).
With Intuit Quickbooks---once you have years of data in their software and systems in place, guess what---upgrade or your business comes to a screeching halt. What do you think most small businesses will do? They just pay the "extortion fees" and unwillingly upgrade every year because in order to keep payroll current (at $300 per year), they have to get the latest version (at $300 per year). I want someone to show me a better business model than Intuit. Note, I did not say it was ethical, I just show me a better business model whereby you can force your customer against their will to conform to what your business needs, year after year. You cannot show me because I am unaware of ANY business that has more monopolistic control than Intuit.
Bottom line: buy Intuit, and anyone shorting this stock is a fool, and that is coming from a person that believe 99% of all stocks are worth less than $0.