Akamai Technologies Easily Beats Estimates
SAN FRANCISCO -- Akamai Technologies(AKAM Quote) posted a jump in profit in the fourth quarter, handily beating Wall Street's expectations.
The Cambridge, Mass.-based company, which provides service for accelerating content and applications online, earned $35.9 million in the fourth quarter, or 20 cents a share, up from $20.6 million, or 12 cents, a year ago in the same period. Excluding certain items, Akamai would have earned 41 cents a share, well above analysts' estimates of 37 cents.
Fourth-quarter revenue was up 46% to $183.2 million compared with $125.7 million a year ago. Analysts were expecting fourth-quarter revenue to total $175 million.
"As we begin our tenth year as a company, we believe the value of Akamai's differentiated services is stronger than ever -- a testament to the dedication of our employees and the commitment of our customers to building great businesses on the Internet," said Akamai Chief Executive Paul Sagan. ...
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