NEW YORK (TheStreet) -- Shares of Intuit (INTU) were gaining 0.7% to $104.90 after-hours Thursday after the financial software company beat analysts' estimates for earnings in the fiscal third quarter.
Intuit reported earnings of $2.85 a share for the fiscal third quarter, above analysts' estimates of $2.74 a share for the quarter. Revenue fell 8% year over year to $2.19 billion for the quarter, compared to analysts' estimates of $2.15 billion.
Looking to the fiscal fourth quarter Intuit expects to report a loss of 10 cents to 12 cents a share and revenue of $720 million to $745 million. Analysts expect the company to report a loss of 5 cents a share and revenue of $728.39 million for the fourth quarter.
"We delivered a strong quarter, exceeding our company financial revenue target amidst another strong tax season and accelerating growth in our small business online ecosystem," President and CEO Brad Smith said. "We achieved our goals in our tax business, increasing growth in the do-it-yourself software category, acquiring and retaining more customers and expanding our market share."
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, notable return on equity, solid stock price performance, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company has had sub par growth in net income."