UPDATE 1-TeleNav Q2 profit trumps Street, share jump
* Q2 adj EPS $0.24 vs est $0.17
* Q2 rev up 19 pct to $48 mln vs est $46.2 mln
* Q2 avg monthly paying users 19.6 mln
* Ups 2011 view
* Shares up 11 pct in trading after the bell
Jan 27 (Reuters) - Navigation-technology provider TeleNav Inc (TNAV.O) posted market topping quarterly results on a 54 percent rise in paying users and said it extended its license and services agreement with AT&T (T.N) by two years.
Shares of the company, which provides voice guided navigation and local search on mobile phones and autos, jumped 14 percent to $8.40 in extended trade.
TeleNav raised its full-year revenue outlook range by $8 million to $195-$200 million. The company now expects adjusted profit of 84-88 cents a share, up from its previous view of 70-78 cents a share.
Net income applicable to common shareholders jumped 83 percent to about $10 million, or 22 cents a share.
Shares of the Sunnyvale, California-based company, which have gained 50 percent in value since the company reported first-quarter results in October, closed at $7.37 on Thursday on Nasdaq. (Reporting by Sayantani Ghosh in Bangalore;Editing by Prem Udayabhanu)
- Malaysian jetliner may have turned back before vanishing |
- Malaysian plane presumed crashed; questions over false IDs |
- Radar showed missing plane may have turned back: Malaysia military
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- Malaysian jet's disappearance among rarest of aviation disasters