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Akamai Technologies, Inc. Stock Up On 11% Y2Y Revenue Increase

AKAM shares were up more than 3% after hours

Akamai Technologies, Inc. (NASDAQ:AKAM) shares were higher Monday as the company unveiled its latest quarterly earnings results after hours.

Akamai Technologies, Inc.The content delivery network and cloud service provider that its first quarter yielded earnings and revenue that beat analysts’ expectations, with revenue increasing about 11% compared to the year-ago quarter, coming in at $669 million. This figure rose 9% year-over-year when adjusting for foreign exchange rate changes.

Akamai Technologies’ Web Division segment raked in $353 million in revenue, gaining about 16% compared to the year-ago quarter, while its Media and Carrier Division surged $316 million, marking a 6% pop compared to the year-ago quarter.

The company’s Cloud Security Solutions saw a 36% increase at $149 million, while its Internet Platform Customers metric fell 14% year-over-year to $44 million. Akamai Technologies’ income from operations tallied up to $167 million, gaining 7% compared to the year-ago quarter.

The company had an operating margin of 25%, which is a minus one percentage point due to two acquisition completions. Its adjusted EBITDA tallied up to $256 million, surging 11% year-over-year, while its cash from operations reached $192 million.

Akamai Technologies’ cash and equivalents at the end of the quarter totaled $1.3 billion, while its stakeholder share repurchases reached $20 million. The company’s revenue from Internet Platform Customers was $44 million, falling 14% compared to the year-ago quarter when adjusted for foreign exchange.

AKAM stock gained about 3.7% after the bell Monday, following a 0.8% gain during the company’s regular trading hours Monday.


Article printed from InvestorPlace Media, https://investorplace.com/2018/04/akamai-technologies-inc-akam/.

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