Bandwidth Inc., a communications technology services company, reported second quarter earnings and revenue that easily beat Wall Street expectations due to strong demand.

The Raleigh-based company reported net income of $10.5 million, or 50 cents per share, in the quarter, compared to net income of $1.7 million, or 13 cents per share, in the second quarter a year ago.

Analysts were expecting a loss of 12 cents per share.

Revenue was $48.3 million, up 22 percent from revenue of $39.5 million in the second quarter a year ago. Analysts were expecting revenue of $45.4 million.

“Our second quarter results demonstrate that we are executing against our strategic initiatives as highlighted by our dollar-based net retention rate of 119 percent,” stated David Morken, chief executive officer of Bandwidth, in a statement.

Bandwidth’s shares rose $1.07 to $36.11 in after-hours trading on Tuesday. The earnings were released after the market closed.

The company also projected revenue for the third quarter and the year above current Wall Street expectations. It projects third-quarter revenue to be between $47.7 million and $48.2 million and full year revenue to be between $198 million and $199 million.

Analysts are currently estimating revenue of $46.7 million for the third quarter and $194 million for the year.

The company went public last year. In the three quarters since it has been a public company, it has beaten Wall Street expectations.

Companies such as Google, Microsoft, and Ring Central use Bandwidth’s APIs to embed voice, messaging and 9-1-1 access into software and applications.

This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism