Why j2 Global Jumped

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What: Shares of j2 Global (Nasdaq: JCOM  ) jumped by as much as 12% after the company announced preliminary earnings for its second quarter.

So what: Second-quarter revenues are expected to be between $88.8 million and $89.5 million, with adjusted earnings per share in the range of $0.68 to $0.71, representing record levels in both top and bottom lines. Even the low end of both figures beat the $87.7 million in sales and $0.63 per share profit that the market was looking for.

Now what: The company paid out about $10 million for its regular quarterly dividend and spent another $20 million repurchasing shares. j2 also announced a proposed $250 million senior unsecured debt offering. It would be a private offering, and j2 would use the funds for "general corporate purposes, which may include acquisitions." The official earnings release will come on Aug. 1, but investors can count on a solid quarter in the bag.

Interested in more info on j2 Global? Add it to your Watchlist.

Fool contributor Evan Niu holds no position in any company mentioned. Check out his holdings and a short bio. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days. The Motley Fool has a disclosure policy.

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Related Tickers

10/25/2016 4:00 PM
JCOM $70.60 Up +0.17 +0.24%
j2 Global Communic… CAPS Rating: **