NEW YORK (TheStreet) --Akamai Technologies  (AKAM) - Get Reportreported less than stellar earnings for the 2016 second quarter after the market closed on Wednesday. The tech content delivery company posted EPS of 64 cents, below analyst estimates of 66 cents per share. Revenue of $572 million was below the projected $590.37 million.

Akamai CEO Tom Leighton  joined CNBC's Simon Hobbs on "Squawk on the Street" Thursday to discuss the company's position and relevancy in an ever-evolving global market.

Hobbs questioned Leighton on the increasing tendency of larger companies such as Facebook (FB) and Amazon (AMZN) to "sidestep" Akamai's services in favor of their own network capacities.

"They're in a position to spend billions of dollars which most companies aren't. Some of them view being core cloud providers as a core part of their platform," Leighton said about those larger companies not sub-contracting Akamai. 

"I think it's important, when you look to the future, that those big companies only account for about 10% of our revenue. The rest of our business is growing at a very healthy clip 15% year-over-year, and our securities business is on fire growing over 40% year-over-year,"Leighton told Hobbs.

However, Akamai stock is in the midst of a 30% decline in the past year, and Hobbs questioned Leighton as to why people should buy the stock.

"It's all about the future and as you look to the future we have a very healthy and rapidly growing business. As more video and applications go online we benefit because we carry a lot of that, and accelerate it."

To that effect, "right now we're gearing up to deliver the Olympics online for 50 major partners and companies around the world. So I'm sure there will be lots of Internet traffic records set by Akami," he noted.

Leighton concluded by reiterating that what Akamai does and the services it provides are a core part of the future of the Internet and the company"has a very bright future."

Shares of Akamai are higher by 0.02% to $50.52 Thursday morning. 

Separately, TheStreet Ratings rates Akamai Technologies as a "Buy" with a ratings score of "B." This is driven by a few notable strengths, which TheStreet Ratings believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks TheStreet Ratings covers.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, growth in earnings per share and increase in net income. TheStreet Ratings feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

You can view the full analysis from the report here: AKAM

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