J2 Global: 2Q Earnings Snapshot
LOS ANGELES (AP) _ J2 Global Inc. (JCOM) on Thursday reported second-quarter profit of $28.5 million.
On a per-share basis, the Los Angeles-based company said it had net income of 57 cents. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $1.50 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The internet and cloud services company posted revenue of $287.9 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $289.9 million.
J2 Global expects full-year earnings in the range of $6.16 to $6.46 per share, with revenue in the range of $1.2 billion to $1.25 billion.
J2 Global shares have climbed 15 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $86.42, an increase of 14 percent in the last 12 months.