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Akamai Technologies: 2Q Earnings Snapshot

July 30, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AKAM at https://www.zacks.com/ap/AKAM

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