Aside from the results, Akamai's board also approved another $150 million repurchase authorization, a second expansion of its buyback program, to be funded by cash from operations.

The company said it repurchased roughly 1 million common shares in the March quarter, spending $42.8 million for an average price of $41.60 per share. At quarter's end, Akamai had roughly 187 million outstanding common shares.

-- Written by Michael Baron in New York.

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