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LOS ANGELES (AP) _ J2 Global Inc. (JCOM) on Thursday reported fourth-quarter profit of $58.1 million.
The Los Angeles-based company said it had profit of $1.27 per share. Earnings, adjusted for one-time gains and costs, were $3.11 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.81 per share.
The internet and cloud services company posted revenue of $469.2 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $434.7 million.
For the year, the company reported profit of $150.7 million, or $3.18 per share. Revenue was reported as $1.49 billion.
J2 Global expects full-year earnings in the range of $8.93 to $9.27 per share, with revenue in the range of $1.63 billion to $1.68 billion.
J2 Global shares have increased 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $107.55, an increase of 12% in the last 12 months.