Shares in financial software maker Intuit (NASDAQ: INTU) were 2% higher in the extended trading session on Thursday after the company reported its 3rd quarter results. The company beat earnings and revenue estimates and also raised its full-year guidance.\r\n\r\nIntuit\u2019s 3rd quarter Non-GAAP EPS were $5.55, 16 cents ahead of Wall Street estimates, while revenue came in at $3.27 billion, $40 million ahead of forecasts.\r\n\r\nThe company also increased its guidance for the 4th quarter and full year. For the 4th quarter, it now expects revenue to grow 10 to 12% and a non-GAAP loss per share of 14 to 16 cents. Its full-year guidance was also well ahead of estimates. Revenue is expected to be close to $ 6.75 billion and non-GAAP EPS will be between $6.67 and $6.69, both representing growth of 12%.\r\n\r\n \r\nService Members Overcharged for Using TurboTax\r\nThe company has recently been hit by revelations that it had tricked military service members into paying a fee to file their taxes. Under a deal with the government, the company was supposed to allow service members a free filing service if they earned less than $66,000 or less. It used the deal as part of a marketing campaign and then charged the filing fee anyway.\r\n\r\nThe fees will no doubt have to be reimbursed, but it\u2019s not clear whether or not there will be further consequences for the company. Intuit\u2019s 2nd quarter results in February were solid and the stock price had a strong rally through March, before selling off when news of the story broke. Despite the selloff, the share price is still up 23% for the year, well ahead of the S&P500\u2019s 13%.\r\n\r\n \r\nOnline Services Lead Growth\r\nIntuit\u2019s small business online ecosystem saw revenues grow 38%. Transitioning clients to its online services have been a priority for the company and this represents solid progress. The company also managed to increase the market share of TurboTax in the DIY category.\r\n\r\nSmall Business and Self-Employed Group revenues also showed robust growth of 19%, while consumer group revenue grew 10%.\r\n\r\nIn addition, Intuit announced that it had bought back $135 billion of its own shares during the quarter, leaving it authorized to spend another $2.8 billion buying back stock. A quarterly dividend of $0.47 per share was announced \u2013 a 21% increase compared to a year earlier.\r\n\r\n \r\nLimited Downside, But Also Fully Valued\r\n\r\n\r\nSoftware makers have been one of the bright spots in the tech sector which has had a very mixed earnings season. Software companies with recurring revenue streams are very much in demand, and any weakness in the share price will be seen as a buying opportunity. The continuing buyback will also support the share if there is any weakness.\r\n\r\nHowever, the stock is trading at 42 times its projected earnings per share for the full year. That isn\u2019t cheap for a company growing at around 12% a year.\r\n\r\nIntuit is likely to consolidate around the current levels and may present trading opportunities. Further fallout from the TurboTax scandal may, however, create a longer-term buying opportunity.