Business-only telecommunications provider Macquarie Telecom has upgraded its earning guidance for the 2012 financial year by about 10 per cent.

Macquarie on Tuesday said it now expects to report earnings before interest, tax, depreciation and amortisation of $40.6 million, up from its previous forecast of $36-$38 million.

The latest forecast is nine per cent higher than the earnings Macquarie unveiled for 2011.

Shares in Macquarie were up or 60 cents, or more than seven per cent, at $8.80 at 1130 AEST.

Macquarie, which is due to announce its 2012 results on August 23, reported a 14 per cent rise in first half net profit to $11.1 million.