Akamai Technologies: 2Q Earnings Snapshot
Jul. 31, 2018
CAMBRIDGE, Mass. (AP) _ Akamai Technologies Inc. (AKAM) on Tuesday reported second-quarter earnings of $43.1 million.
The Cambridge, Massachusetts-based company said it had profit of 25 cents per share. Earnings, adjusted for one-time gains and costs, came to 83 cents per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The cloud services provider posted revenue of $662.8 million in the period, which also beat Street forecasts. Twelve analysts surveyed by Zacks expected $661.9 million.
Akamai Technologies shares have risen 16 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 5 percent. In the final minutes of trading on Tuesday, shares hit $75.26, an increase of 60 percent in the last 12 months.