CAMBRIDGE, Mass. (
raised its fourth-quarter earnings and revenue guidance amid stronger volume growth.
Akamai, a Web video delivery company, said Monday it expects fourth-quarter normalized earnings of 42 cents to 43 cents a share on revenue of $230 million to $235 million, growth of 8% to 11% from a year earlier.
On a GAAP basis, earnings are expected at 19 cents to 20 cents a share.
Akamai had expected fourth-quarter earnings of 39 cents to 41 cents on revenue of $271 million to $224 million.
Analysts surveyed by Thomson Reuters estimate Akamai will earn 40 cents a share in the fourth quarter on revenue of $221 million.
"The first two months of the fourth quarter tracked above our expectations," said JD Sherman, chief financial officer, in a statement. "We have been seeing stronger volume growth this quarter as compared to the same quarter last year in our commerce and media verticals, and we anticipate this trend will continue through the end of the year."
On Friday, Akamai shares rose Friday after two analysts upgraded the stock based on an upbeat outlook for online commerce. The stock closed at $24.98, up 5%.
-- Reported by Joseph Woelfel in New York
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