Updated from 12:42 p.m. EDT

Shares of

Global Crossing


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.

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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."