J2 Global: 4Q Earnings Snapshot
LOS ANGELES (AP) _ J2 Global Inc. (JCOM) on Tuesday reported fourth-quarter earnings of $50.6 million.
On a per-share basis, the Los Angeles-based company said it had profit of $1.03. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, were $2.11 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.03 per share.
The internet and cloud services company posted revenue of $346.1 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $343.9 million.
For the year, the company reported profit of $128.7 million, or $2.59 per share. Revenue was reported as $1.21 billion.
J2 Global expects full-year earnings in the range of $6.65 to $6.95 per share, with revenue in the range of $1.29 billion to $1.33 billion.
J2 Global shares have climbed slightly more than 8 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $75.19, an increase of roughly 3 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JCOM at https://www.zacks.com/ap/JCOM