Why Akamai (AKAM) Stock Is Soaring Today

Akamai (AKAM) shares were up on Tuesday following its 2015 Q4 earnings report.

Akamai, AKAM stockAkamai reported earnings per share of 72 cents during its fourth quarter of 2015. This is a two penny increase from its EPS for Q4 2014. Analysts were expecting the company to report EPS of 62 cents for the quarter.

Akamai revenue for Q4 2015 was $579.15 million. This is up from the $551.03 million that it reported during the same time last year. Wall Street was expecting $568.72 million in revenue from the company.

Akamai also announced that its Board of Executives has approved a $1 billion share repurchase program. The program will start on Feb. 9, 2016 and will last through Dec. 31, 2018.

AKAM shares were up 23% as of Wednesday morning.

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