Akamai Beats on Revenue - TheStreet

Akamai Beats on Revenue

Second-quarter earnings are in line with Street estimates, but shares slip 7%.
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(AKAM) - Get Report

announced second-quarter results Wednesday that were in line with analysts' expectations for earnings but came in ahead of revenue expectations.

Net income was $21.6 million, or 12 cents a share, up 92% year over year.

Adjusted for items, net income increased 55% year over year to $55.4 million, or 30 a share.

Revenue grew to $152.7 million, a 52% year-over-year jump.

After hours, shares of Cambridge, Mass.-based Akamai lost $3.39, or 7.2%, to $43.79.

Analysts surveyed by Thomson First call expected EPS of 30 cents on revenue of $150.92 million.

"Demand for our core content delivery and application acceleration services grew in all sectors of our business," Akamai CEO Paul Sagan said in a statement.