ExactTarget (NYSE:ET), a top provider of cloud-based marketing services, is keeping up its winning ways.
The company put out a strong second-quarter report Thursday evening, with revenues increasing 42% to $69.32 million, and adjusted earnings coming to 1 cent per share. Both beat consensus estimates for a respective $65.86 in revenues and an 8-cent adjusted loss.
And the momentum is expected to continue into the third quarter. ExactTarget expects to generate revenues of $71 million to $72 million for the period, which is more than Street forecasts of $69.40 million.
The stock spiked by about 7% to $24.45 in midday Friday trading; ET came public in March at $19 per share.
Founded in 2000, ExactTarget is a pioneer in online marketing. No doubt, it has benefited from the massive trend in social media, as the company has developed products to leverage platforms like Facebook (NASDAQ:FB) and Twitter.
The company also has made large investments in technologies for smartphones and tables — for example, the company recently launched MobileConnect.
All in all, ExactTarget looks like it still is in the early stages of a major growth cycle — and Wall Street is taking notice.
Tom Taulli runs the InvestorPlace blog IPOPlaybook, a site dedicated to the hottest news and rumors about initial public offerings. He also is the author of “All About Short Selling” and “All About Commodities.” Follow him on Twitter at @ttaulli. As of this writing, he did not own a position in any of the aforementioned securities.