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NEW YORK (TheStreet) -- E*Trade Financial Corp (ETFC) - Get Free Report stock is gaining on Thursday after the company posted better-than-expected earnings and revenue in its first quarter. 

By late morning, shares had added 6.1% to $22.82.

Over the three months to March, the financial services company earned 33 cents a share, 10 cents higher than analysts surveyed by Thomson Reuters had forecast. 

Revenue climbed 13.1% year over year to $475 million. Analysts had expected $454.56 million.

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TheStreet Ratings team rates E TRADE FINANCIAL CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate E TRADE FINANCIAL CORP (ETFC) a BUY. This is driven by a number of 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 impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations, expanding profit margins and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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