j2 Global Jumps 10% on Positive Prelim Results

Shares of j2 Global

were seeing increased strength during Monday's trading session after the company reported second quarter preliminary results that exceeded analysts' estimates. j2 Global reported second quarter preliminary earnings per share to be in the range of $0.68-0.71, which is higher than analyst consensus estimates of $0.63. The company also reported revenues for the same period to be in the range of $88.8-89.5 million, versus analysts' estimates of $87.7 million. The Company ended the quarter with more than $206 million in cash and investments after deploying approximately $10 million for the Company's regular quarterly dividend, and approximately $20 million in repurchasing the Company's common stock. "I am pleased that our preliminary results for Q2 indicate that we achieved record quarterly revenues and earnings per share," said Hemi Zucker, j2 Global's chief executive officer. Monday, shares of j2 Global were trading up about 9 percent, at about $28.68 per share.