LogMeIn (LOGM) - Get Report shares rose 10.6% to $80.04 after the cloud-based communications company beat Wall Street's second-quarter earnings and revenue forecasts.

The Boston-based company posted net losses of $6.5 million, or 13 cents a share, compared with net income of $6.6 million, or 12 cents a share a year ago. Adjusted  earnings were $1.17 a share, surpassing analysts' estimates of $1.13. Revenue totaled $313.1 million, up from $305.7 million in the year-ago period and beating Wall Street's forecast.

For the third quarter, LogMeIn said it expects adjusted earnings of $1.35 to $1.37 a share on sales of $314 million to $316 million. Analysts are looking for earnings of $1.32 a share and sales of $317 million

For the full year, the company said it expects non-GAAP revenue to range from $1.258 billion to $1.263 billion. 

"We improved our competitive position in our core meeting market while successfully launching new product offerings aimed at accelerating our momentum in our growth markets," said Bill Wagner, president and CEO, said in a statement."Most significantly, the contribution of our growth products continued to accelerate and is now 24 percent of total company revenue."

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