NEW YORK (TheStreet) -- Shares of Intuit (INTU) were gaining 5.3% to $95.95, hitting an all-time high of $96.61, on Friday after the software company beat analysts' estimates for earnings and revenue in the fiscal second quarter.
Intuit reported a loss of 6 cents a share for the fiscal second quarter, beating analysts' estimates of a loss of 13 cents a share for the quarter. Revenue grew 3.3% year over year to $808 million for the quarter, above analysts' estimates of $783.63 million.
The company said that it added 102,000 QuickBooks Online subscribers in the fiscal second quarter, bringing its total number of paying subscribers to 841,000. Intuit raised its subscriber guidance to between 975,000 to 1 million subscribers by the end of fiscal 2015 which ends in July 2015, up from its previous guidance of 925,000 to 950,000 subscribers.
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Intuit said it expects to report earnings of $2.70 to $2.75 a share for the fiscal third quarter and revenue of $2.075 billion to $2.15 billion. Analysts expect the company to report earnings of $2.88 a share and revenue of $2.23 billion for the quarter.
TheStreet Ratings team rates INTUIT INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTUIT INC (INTU) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: INTU Ratings Report