Shares of business software maker NetSuite Inc. climbed Friday after its second-quarter results topped expectations and the company raised its full-year profit forecast.
NetSuite reported after the close of trading Thursday that its second quarter loss grew to $7.2 million, or 11 cents per share, from $5 million, or 8 cents per share, a year ago.
Stripping out one-time items, the company made a profit of $1.9 million, or 3 cents per share, up from $687,000, or a penny per share. That was two cents better than analysts expected, according to Thomson Reuters.
Revenue climbed 17 percent to $47.1 million, beating the average forecast of $45.3 million.
NetSuite said the results were better than it was expecting and the company raised its full-year earnings forecast. It now expects 11 cents to 12 cents per share, excluding items, up from a previous outlook of 6 cents to 8 cents per share. Analysts forecast a profit of 8 cents per share, on average.
NetSuite shares rose 72 cents, or 4.8 percent, to $15.89 in midday trading.