05:12 AM EDT, 05/29/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Ooma ( OOMA ) shares traded up almost 17% in premarket activity on Wednesday after the company reported stronger than anticipated revenue growth in fiscal Q1, and its earnings guidance for Q2 and the full financial year currently underway also beat market expectations.

The company reported fiscal Q1 non-GAAP earnings late Tuesday of $0.14 per diluted share, down from $0.16 a year earlier.

Analysts polled by Capital IQ expected $0.11.

Revenue for the quarter ended April 30 was $62.5 million, up from $56.9 million a year earlier.

Analysts surveyed by Capital IQ expected $61.8 million.

The company expects Q2 non-GAAP EPS between $0.13 and $0.14 and revenue between $62.5 million and $63.0 million.

Analysts polled by Capital IQ expect $0.12 and $62.2 million.

The company expects fiscal 2025 non-GAAP EPS between $0.55 and $0.58 and revenue between $250.7 million and $253.0 million.

Analysts surveyed by Capital IQ expect $0.53 and $251.3 million.

Price: 9.30, Change: +1.40, Percent Change: +17.72