The company reported a 26% year-over-year increase in adjusted net income to $106 million, or 58 cents per diluted share, which beat the consensus estimate of 55 cents a share. Revenue also increased 26% year over year to $476 million, which surpassed analysts' estimate of $472.86 million.
The stock was down 8.04% to $55.85 at 4:26 p.m.
Separately, TheStreet Ratings team rates AKAMAI TECHNOLOGIES INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate AKAMAI TECHNOLOGIES INC (AKAM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
You can view the full analysis from the report here: AKAM Ratings Report
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.