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Why Mitel (MITL) Stock Is Soaring Today

Shares are up more than 20%

Mitel (NASDAQ:MITL) stock is skyrocketing today.

Source: ©

Shares are up as the company revised its fourth-quarter guidance Friday. Mitel offered earnings-per-share guidance of $0.27-0.28 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.24.

The company issued revenue guidance of $330-$335 million, compared to the consensus revenue estimate of $327.76 million.

Mitel last announced its earnings results on November 5th, reporting $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 EPS.

MITL stock is up 20.5% Friday.

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