CyberSource shares jump after solid 2Q results

Shares of CyberSource Corp. jumped Friday after the online payment service provider posted solid second-quarter results _ boosted by an influx of new customers _ and a third-quarter revenue forecast above Wall Street's expectations.

For the three months ended June 30, the company posted a net loss of $45,000, or break-even per share, down from a profit of $160,000, also break-even per share, in the same period a year ago.

Excluding the amortization of intangible assets and other items, the company earned 16 cents per share in the latest quarter.

Revenue more than doubled to $55.7 million from $22.9 million.

Analysts, on average, were expecting a profit of 15 cents per share, excluding items, on sales of $54.3 million, according to a poll by Thomson Financial.

The company "reported another solid quarter with no evidence of adverse headwinds from slowing consumer spending," wrote Oppenheimer analyst Glenn Greene, who rates the stock "Perform," in a note to investors. The rating means the stock is expected to perform in line with the S&P 500 in the next 12 to 18 months.

The company forecast third-quarter sales of $55.8 million and $56 million and adjusted earnings of 14 cents per share. Including charges and other items, the company expects to post a net loss of a penny per share.

Analysts are predicting a profit, excluding items, of 15 cents per share and revenue of $54.6 million.

The Mountain View, Calif.-based company's shares rose $2.02, or 13 percent, to $17.27 in morning trading. The stock has traded between $10.85 and $20.40 in the past year.