Akamai Technologies: Fourth Quarter Earnings Snapshot - ExBulletin

Source: ExBulletin

CAMBRIDGE, Mass. (AP) CAMBRIDGE, Mass. (AP) Akamai Technologies (AKAM) on Tuesday reported fourth-quarter net income of $161.2 million.

The Cambridge, Massachusetts-based company said it had net income of $1.03 per share. Earnings, adjusted for one-time gains and costs, were $1.69 per share.

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The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share.

The cloud services provider posted revenue of $995 million in the period, which missed street expectations. Eight analysts surveyed by Zacks expected $997.6 million.

For the year, the company reported profit of $547.6 million, or $3.52 per share. Revenue was reported at $3.81 billion.

Akamai Technologies expects its earnings per share to be between $1.59 and $1.64 for the current quarter ending in March.

The company said it expects first-quarter sales to be in the range of $980 million to $1 billion.

Akamai Technologies stock has risen nearly 6% since the beginning of the year, while the S&P 500 index has risen nearly 4%. In the final minutes of trading on Tuesday, shares hit $125.11, a rise of 42% in the last 12 months.

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This article was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AKAM at https://www.zacks.com/ap/AKAM.

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