NEW YORK (TheStreet) -- Shares of Ancestry.com (ACOM) rose in late trades Wednesday after the company handily beat Wall Street's earnings expectations and agreed to acquire privately held Archives.com for $100 million.
The Provo, Utah-based company said its subscriber base stood at 1.87 million as of March 31, up 16% year-over-year, and announced a new $100 million buyback program as well.
For the first quarter, Ancestry.com said it earned $13.5 million, or 30 cents a share, on revenue of $108.5 million, besting the average estimate of analysts polled by Thomson Reuters for a profit of 23 cents a share on revenue of $107.4 million.
The stock was last quoted at $26.99, up 10.4%, on volume of nearly 90,000, according to Nasdaq.com.Ancestry.com also forecast revenue of $115 million to $117 million for the second quarter with subscribers rising to a range of 1.965 million to 1.980 million. For the full year, it sees revenue of $460 million to $470 million with between 1.965 million and 1.985 million subscribers. Check out TheStreet's quote page for Ancestry.com for year-to-date share performance, analyst ratings, earnings estimates and much more.
Akamai TechnologiesShares of Akamai Technologies (AKAM) fell in the extended session after the content delivery technology company reported above-consensus quarterly results but announced Paul Sagan, its president and CEO, is leaving at the end of 2013. The Cambridge, Mass.-based company posted normalized earnings of $75 million, or 41 cents a share, on revenue of $319 million. The average estimate of analysts polled by Thomson Reuters was for a profit of 38 cents a share on revenue of $310.7 million. Akamai also said its board has approved the repurchase of up to $150 million worth of its common stock.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV