Why Shares of MobileIron Are Soaring Today

Fool

Image source: MobileIron.

Shares of enterprise mobility management provider MobileIron (NASDAQ: MOBL) surged on Monday following an announcement by the company that it was raising its guidance for the third quarter. At 11 a.m. EDT, the stock was up about 15%.

For the third quarter, which ended Sept. 30, MobileIron now expects gross billings in the range of $46.5 million to $47.5 million, up from previous guidance of $43 million to $45 million. Revenue will also come in higher than previously anticipated, with MobileIron now expecting between $41 million and $42 million of revenue, up from previous guidance of $39 million to $41 million.

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