11:20 AM EDT, 08/12/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

Monday.com ( MNDY ) shares were up nearly 12% in recent Monday trading after the project management software provider reported better-than-expected Q2 results and raised its full-year revenue guidance.

The company reported Q2 non-GAAP net income of $0.94 per diluted share, up from $0.41 a year earlier.

Analysts polled by Capital IQ expected $0.56.

Revenue for the quarter ended June 30 was $236.1 million, compared with $175.7 million a year earlier.

Analysts polled by Capital IQ expected $229.1 million.

The company said it expects Q3 revenue of $243 million to $247 million. Analysts polled by Capital IQ expect $243 million.

For the full year, Monday.com ( MNDY ) raised its revenue outlook to between $956 million and $961 million from the previous range of $942 million to $948 million. Analysts polled by Capital IQ expect $947.9 million.

Price: 252.66, Change: +26.96, Percent Change: +11.94