The Globe and Mail reports in its Friday edition that Lightspeed Commerce stock rose Thursday after beating second quarter forecasts and raising its earnings outlook. The Globe's Sean Silcoff writes that the cancellation of a capital markets day on Nov. 20 sparked speculation about a possible sale of the company. Lightspeed said Thursday it booked $277.2-million of revenue in the quarter ended Sept. 30, up 20 per cent from the same period last year (all figures U.S.). That was above Lightspeed's predicted range of $270-million to $275-million and higher than analyst estimates. Adjusted earnings before tax, interest, depreciation and amortization was $14-million or $2-million above the company's forecast. Lightspeed narrowed its net loss to $29.7-million from $42.5-million a year earlier and cut the level of cash flows used in operating activities to $11.3-million from $24.8-million a year earlier. Chief financial officer Asha Bakshani said cash flows would have been positive but for Lightspeed's growing business of advancing funds to merchants, which generated $9.3-million in revenue, up 121 per cent. Despite its lack of bottom-line profitability, Lightspeed has now generated five quarters of positive adjusted EBITDA.