Updated from 12:42 p.m. EDT
climbed Friday after the fiber optic network builder told investors that it expects to surpass its own revenue estimates for the rest of the year.
Global Crossing finished Friday regular trading up $5.06, or 16.8%, at $35.13.
Inspired by a strong financial performance in the first half of 2000, Global Crossing, based in Hamilton, Bermuda, predicted that cash revenue from continuing operations would rise to $5.2 billion for the year, up from a previous estimate of $4.84 billion.
Taking into account acquisitions, the company -- which is building a fiber optic network of more than 101,000 route miles stretching across 27 countries -- expects to increase cash revenue for the year to about $5.37 billion, a 38% hike over last year.
For continuing operations, full-year adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, is expected to increase to $1.34 billion, up from an original projection of $1.21 billion, according to the company.
The company said it relies on cash revenue and adjusted EBITDA because they "are meaningful measures of performance and liquidity."