Akamai Technologies' Beats Profit, Sales Expectations
Akamai Technologies reported a fourth-quarter net profit that rose to $97.1 million, or 54 cents a share, from $91.2 million, or 50 cents a share, in the year-earlier period. Excluding non-recurring items, adjusted earnings per share were 70 cents, beating the FactSet consensus analyst estimate of 63 cents. The cloud services company said revenue rose 23% to $536 million, above analyst forecasts of $526 million, with particular strength in its security and media businesses. The company said if the negative effects of currency moves were factored out, revenue would have increased 25%. The stock eased 0.2% in after-hours trade. It has gained 1.9% over the past three months through Tuesday's close, slightly better than the S&P 500's 1.4% rise.
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