Akamai Technologies: 2Q Earnings Snapshot
CAMBRIDGE, Mass. (AP) _ Akamai Technologies Inc. (AKAM) on Tuesday reported second-quarter net income of $113.9 million.
The Cambridge, Massachusetts-based company said it had profit of 69 cents per share. Earnings, adjusted for one-time gains and costs, were $1.07 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The cloud services provider posted revenue of $705.1 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $695.7 million.
Akamai Technologies shares have climbed 38% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. In the final minutes of trading on Tuesday, shares hit $84.03, a rise of 12% in the last 12 months.