December 2, 2011 / 3:44 PM / 6 years ago

Mitel Networks shares jump on strong Q2 results

Dec 2 (Reuters) - Shares of Mitel Networks Corp rose as much as 42 percent, a day after the company posted better-than-expected second-quarter results driven by strong demand for its business communications software.

The Ottawa, Canada-based company, which makes voice-over-internet-protocol communications software, posted second-quarter revenue of $168.8 million, above analysts’ estimates of $166 million.

The company also forecast third-quarter revenue of $164-$170 million, in line with analysts’ estimates.

Shares of the company, valued at about $200 million, were trading up 30 percent at $3.55 on Friday morning on Nasdaq. It had touched a high of $3.88 earlier in the session. (Reporting by Soham Chatterjee in Bangalore; Editing by Supriya Kurane)

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